CHICAGO, June 11, 2021 /PRNewswire-PRWeb/ — Ziegler, a specialty investment bank, is pleased to announce its role as exclusive capital structuring advisor in a $48,950,000 debt placement (the “Financing” or the “Transaction”) on behalf of Symphony Care Network (“Symphony” or the “Borrower”) to finance the acquisition of a portfolio of two skilled nursing facilities and one supportive living facility (the “Communities” or the “Portfolio”) located in the Lincoln Park and South Shore neighborhoods of Chicago, Illinois.
Prior to the Transaction, Symphony already operated the Communities, consisting of 475 licensed skilled nursing beds and 118 supportive living beds. The Financing allowed Symphony to reacquire the Portfolio’s real estate interest from a publicly traded REIT. The Transaction represented the final phase of a wider portfolio restructuring between the buyer and seller. Ziegler delivered on an incredibly short timeline to close the transaction in 52 days from initial engagement. Symphony’s overall portfolio totals over 30 properties throughout Illinois, Indiana, Wisconsin and Michigan.
“David Hartman and his best-in-class team at Symphony continue to reposition their Portfolio to allow for reinvestment into their Communities and focus on delivering top quality care. I am proud to continue our advisory relationship with the completion of this Transaction,” stated Chris Utz, Managing Director, Ziegler’s Senior Housing & Care Finance Practice, who arranged and negotiated the transaction.
“Chris and his team at Ziegler structured and executed the transaction impeccably within a very tight timeline. This pivotal deal will allow Symphony to continue delivering the finest healthcare services to the surrounding communities,” stated David Hartman, CEO, of Symphony Care Network.
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.
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Christine McCarty, Ziegler, 3125961617, firstname.lastname@example.org