SVWC is completing an independent living villa apartment expansion project, the first phase of which was financed by Ziegler in 2022 and will includes 48 new independent living villa apartments. The second phase of the project that is being financed with the Series 2023 Bonds includes an additional 49 independent living villa apartments for which SVWC issued two tranches of draw down bank loans that were purchased by Atlantic Union Bank and Pinnacle Financial Partners under a participation agreement:

•     Series 2023A Long-Term Bond ($27,500,000): 10-year bank commitment period with an accreting swap that mitigates interest rate risk through the bank commitment period.
•     Series 2023B Intermediate-Term Bond ($25,000,000): 30-month maturity to be repaid with initial entrance fees from the project at pricing.

Duane A. Wernecke, CPA, Chief Financial Officer, Shenandoah Valley Westminster Canterbury stated, “Shenandoah Valley Westminster-Canterbury has engaged Tad Melton and Ziegler since 2014.” Wernecke added, “In addition to the 2022 and 2023 Revenue Bond financings, SVWC partnered with Ziegler on several debt refinancings, significantly reducing SVWC’s cost of capital. The financial strength of this community is a direct result of SVWC’s strategic partnership with Ziegler and it’s Richmond Virginia representatives, Tad Melton, Tommy Brewer, and Adam Garcia. The success of this community and this villa expansion project is a direct result of our affiliation with Ziegler.”

“Shenandoah Valley Westminster-Canterbury is one of the strongest single site life plan communities in the nation,” stated Tad Melton, Managing Director, Ziegler Senior Living Finance. Melton continued, “The Series 2023 financing was highly successful and demonstrated our teams’ ability to offer steady guidance in a volatile market environment, the attractiveness of SVWC’s sound financial profile and the ability of its board and management team to achieve success in a dynamic time. Working together, the outcome was yet another example of SVWC growing and evolving and delivering on its mission and to its residents.”

Ziegler is the nation’s leading underwriter of financings for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.
For more information about Ziegler, please visit us at http://www.ziegler.com.

About Ziegler:
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit http://www.ziegler.com.

Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.

Media Contact

Christine McCarty, Ziegler, 3125961617, [email protected], www.ziegler.com

SOURCE Ziegler