Ziegler Closes $48,710,000 Acquisition Financing For the EveryAge Obligated Group
Summary
On August 1, 2024, the EveryAge Obligated Group entered into an asset purchase agreement to acquire Providence Place, an existing not for profit retirement community as well as two adjacent commercial properties. To help mitigate interest rate risk, the EveryAge Obligated Group entered a 10-year swap for most of the loan amount at an all-in taxable rate of 5.448%.With the addition of BellaAge Hickory and Providence Place, EveryAges total unit count will increase to 1,430 units (would be ranked 53rd in the 2024 LeadingAge Ziegler 200).Tommy Brewer, Managing Director, Ziegler Senior Living Finance stated, "Under the strong leadership of its management team, EveryAge has been able to successfully add a new campus to its growing system. The addition of Providence Place will enable EveryAge to add a fourth full service continuing care campus and expand its mission into High Point. 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. 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.