Overview of Recent Financing Activity
Ziegler is excited to announce the successful closure of $16,469,896 in Series 2025 Bonds for Shenandoah Valley Westminster-Canterbury (SVWC). This financing marks a significant milestone in the organization's ongoing development and expansion efforts.
Shenandoah Valley Westminster-Canterbury: A Not-for-Profit Leader
Shenandoah Valley Westminster-Canterbury is a not-for-profit organization operating a comprehensive life plan community. Founded in 1982, SVWC operates on an expansive campus and provides a range of services tailored to the needs of its residents, including housing and healthcare. The community comprises 311 independent living units, 48 assisted living units, and 51 skilled nursing beds, showcasing its commitment to fostering a healthy environment.
Strategic Land Acquisition for Growth
The organization has recently completed a two-phase expansion, adding 97 independent living apartments to its offerings. With the opportunity to acquire an adjacent 90-acre plot of undeveloped land, SVWC is poised for further growth. This strategic acquisition will allow the organization to explore new development opportunities that align with its mission of service.
Financing Details and Procurement
To finance this land purchase, SVWC issued a Series 2025 Direct Bank Bond facilitated by Atlantic Union Bank, featuring an 8-year commitment period with terms aligned to existing debt. Moreover, Ziegler supported the organization by negotiating favorable terms with their current lenders, reducing the credit spread and adjusting the amortization on the existing Series 2023A Direct Bank Bond. These measures will optimize SVWC's financial health and ensure manageable debt service requirements in the forthcoming years.
Guidance and Partnership
Duane Wernecke, the CFO of Shenandoah Valley Westminster-Canterbury, expressed gratitude for Ziegler's ongoing strategic guidance. He noted that Ziegler's expertise has empowered SVWC's leadership to navigate challenges and seize growth opportunities effectively. With over 20 years of collaboration, Tad Melton, Managing Director at Ziegler, commented on SVWC's dedication to thoughtful planning and sustainable expansion.
Commitment to Excellence in Senior Living
Ziegler stands out as a leading underwriter in financing for not-for-profit senior living providers. The firm specializes in crafting customized solutions for their clients, encompassing investment banking, financial risk management, and strategic planning, among other services. Their commitment extends beyond financing; they provide comprehensive support that enhances operational effectiveness within the senior living sector.
About Ziegler
Ziegler is a national boutique investment bank with a prominent focus on healthcare, education, and municipal finance. Headquartered in Chicago, Ziegler serves clients across the United States, offering investment banking and capital raising services. Their reputation is built on a strong foundation of support and guidance in their specialized fields. For extensive insights into their capabilities, consider visiting their website.
Frequently Asked Questions
What is the purpose of the financing secured by Ziegler?
The financing is intended for Shenandoah Valley Westminster-Canterbury to facilitate the acquisition of adjacent undeveloped land for future community growth.
How long has Shenandoah Valley Westminster-Canterbury been in operation?
SVWC has been operating since 1982, providing a range of senior living services for over four decades.
What types of living arrangements does SVWC offer?
SVWC offers independent living units, assisted living, memory care, and skilled nursing services on its campus.
Which bank purchased the Series 2025 Direct Bank Bond?
Atlantic Union Bank purchased the Series 2025 Direct Bank Bond issued by SVWC for financing their land acquisition.
What services does Ziegler provide beyond financing?
Ziegler provides investment banking, financial risk management, strategic planning, and consulting services tailored to senior living organizations.
