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CHICAGO, August 5, 2019 /PRNewswire-PRWeb/ -- Ziegler, a national specialty investment bank is pleased to announce its role as the exclusive sell side financial advisor for Healthcare Properties of St. Augustine, Inc. dba The Ponce Therapy Care Center (The Ponce) in its sale to and affiliate of Greystone Healthcare Management Corp. (Greystone).
The Ponce was developed by Mr. Dan McLaren in 1984 and operated as a family business until its sale in June 2019. The Ponce Therapy Care Center is a 120-bed skilled nursing therapy center located in St. Augustine Florida. The community had undergone substantial renovations and was not fully stabilized at the time of acquisition.
Greystone manages a healthcare network comprised of 28 skilled nursing and assisted living communities, outpatient rehabilitation, home health and private duty agencies.
Greystone CEO Stephanie Handelson, stated, "I have had the privilege of meeting the warm and caring staff at The Ponce, who take pride in the high caliber of care they provide every day. During my visits, it was clearly evident to me that this community exemplifies Greystone's values of care, respect, and sustaining a positive home environment—Where People Matter. I'm truly proud to welcome this dedicated team onboard and I look forward to working together towards our continual commitment to growth and improving the quality of life of our residents."
Dan McLaren stated, "The potential decision to sell our family owned nursing home after thirty-five years was difficult. Finding the right buyer with the right offer seemed overwhelming; however, Ziegler made us comfortable with the decision and helped us realize we had a lot to offer potential buyers utilizing their contacts and competitive bidding process. Ziegler's presentation of our facility and constant involvement with both the buyer and us facilitated an outcome greater than our expectations."
Don Husi, Managing Director, Co-head of Ziegler Senior Housing & Care Finance stated, "It was a pleasure to work with the Ponce and Greystone teams to effect a great outcome for all parties. The transaction is believed to be one of the highest price-per-bed transactions in the state of Florida and Ziegler is proud to continue our 95% success rate of closed transactions upon letter of intent execution."
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.
About Ziegler: Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. We have a unique focus on the 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, fixed income sales & trading and research. 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.
SOURCE Ziegler
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The Ponce was developed by Mr. Dan McLaren in 1984 and operated as a family business until its sale in June 2019. The Ponce Therapy Care Center is a 120-bed skilled nursing therapy center located in St. Augustine Florida. The community had undergone substantial renovations and was not fully stabilized at the time of acquisition.
Greystone manages a healthcare network comprised of 28 skilled nursing and assisted living communities, outpatient rehabilitation, home health and private duty agencies.
Greystone CEO Stephanie Handelson, stated, "I have had the privilege of meeting the warm and caring staff at The Ponce, who take pride in the high caliber of care they provide every day. During my visits, it was clearly evident to me that this community exemplifies Greystone's values of care, respect, and sustaining a positive home environment—Where People Matter. I'm truly proud to welcome this dedicated team onboard and I look forward to working together towards our continual commitment to growth and improving the quality of life of our residents."
Dan McLaren stated, "The potential decision to sell our family owned nursing home after thirty-five years was difficult. Finding the right buyer with the right offer seemed overwhelming; however, Ziegler made us comfortable with the decision and helped us realize we had a lot to offer potential buyers utilizing their contacts and competitive bidding process. Ziegler's presentation of our facility and constant involvement with both the buyer and us facilitated an outcome greater than our expectations."
Don Husi, Managing Director, Co-head of Ziegler Senior Housing & Care Finance stated, "It was a pleasure to work with the Ponce and Greystone teams to effect a great outcome for all parties. The transaction is believed to be one of the highest price-per-bed transactions in the state of Florida and Ziegler is proud to continue our 95% success rate of closed transactions upon letter of intent execution."
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.
About Ziegler: Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. We have a unique focus on the 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, fixed income sales & trading and research. 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.
SOURCE Ziegler
