“We are thrilled to have been able to secure the debt needed for Radiant to complete this acquisition in a timely manner during a difficult lending period in the market,” stated Eric Johnson, Senior Vice President in Ziegler’s Senior Housing & Care Finance practice…
November 12, 2020
Ziegler, a specialty investment bank, is pleased to announce its role as exclusive capital structuring advisor in a $42,600,000 debt placement (the “Financing”) on behalf of Radiant Senior Living (Radiant) to finance the acquisition of a portfolio of three senior housing communities located in Washington and Montana (the “Portfolio”). Two of the communities are located in Washington near Seattle, while the third is located in Bozeman, Montana.
“We are thrilled to have been able to secure the debt needed for Radiant to complete this acquisition in a timely manner during a difficult lending period in the market,” stated Eric Johnson, Senior Vice President in Ziegler’s Senior Housing & Care Finance practice, who arranged and negotiated the transaction.
The Financing consisted of a combination of senior and mezzanine debt, with Congressional Bank providing the senior debt and a national senior housing fund providing the mezzanine debt.
“We were pleased to have been selected to provide the senior debt for this transaction. We have been looking for the right opportunity to provide financing for Radiant, a best-in-class owner/operator. We are extremely thankful to the Ziegler team for showing us the transaction and for facilitating such a smooth process,” said Amy Heller, President of Healthcare Lending at Congressional.
Radiant acquired the Portfolio from a publicly traded healthcare REIT as part of their expansion efforts across the country. The Portfolio consists of 36 independent living units and 204 assisted living units. The properties enjoy in-place, stabilized cash flow and provide opportunity for additional upside through operational efficiencies due to scale. Post-acquisition, Radiant’s portfolio totals 18 communities spanning across six states in the Pacific Northwest.
Ziegler’s Senior Housing & Care Finance Practice brings its experience and expertise to senior housing and post-acute care clients. By offering a comprehensive suite of products for debt, equity and M&A services, our professionals provide creative solutions that meet your organization’s capital goals.
For more information about Ziegler, please visit us at http://www.ziegler.com.
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.
# # #
Share article on social media or email: