Speciality investment bank Ziegler has closed more than $100 million in Series 2019A/B bonds needed for South Carolina’s Bishop Gadsden Episcopal Retirement Community to undertake a massive renovation and expansion.
The 143-acre life care retirement community has been nationally recognized for its architectural design and services, but it was in need of capital funding for a replacement skilled nursing facility, eight additional independent units and a suite of modernized assisted living units that will bring the community’s total to 80.
“The projects funded with the Series 2019A/B financing will result in one of the most progressive, contemporary skilled nursing and assisted living environments in the United States,” said Tad Melton, managing director for Ziegler. “Bishop Gadsden is constantly raising the bar for the industry, and we identified extraordinary demand from the bank and public market sectors for the opportunity to lend to and invest in Bishop Gadsden’s debt.”
