Ziegler announces financing
Ziegler announced the successful closing of $39.3 million in Series 2017 financing for the South Carolina Episcopal Home at Still Hopes.
The continuing care retirement community sits on 43 acres in West Columbia, SC, while Still Hopes is on a family homeplace dating back to the early 1800s.
Still Hopes includes nearly 200 independent living units, 24 dementia assisted living units, 22 rehabilitation beds and 40 skilled nursing beds.
The financing will be used to construct a new health center that will be called HealthPointe. It will include 48 skilled nursing beds and 22 assisted living apartments that will replace its existing 40 skilled nursing beds, fund a debt service reserve fund, fund interest during construction and pay certain costs of issuance associated with the financing.
“The Health Pointe project continues this tradition at Still Hopes and the highly successful Series 2017 financing was met with widespread support from the capital markets,” said Tad Melton, Managing Director in Ziegler's senior living practice.