Ziegler closes $52M bond issue for ABHOW

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Ziegler announced the closing of $52 million rated, tax-exempt, fixed-rate Series 2015 Bond issue for American Baptist Homes of the West Obligated Group.

The proceeds will be used to refund the outstanding Series 2006 Bonds, reimburse ABHOW $11 million for prior capital expenditures across the communities, and fund $9 million for new projects.

ABHOW owns and operates seven continuing care retirement communities in California and provides management services to four affiliated CCRCs. Founded in 1949, ABHOW is a long-time client of Ziegler, and has its origin as Pilgrim Haven Home Corporation in Los Altos, CA.

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