Ziegler, a specialized investment bank, recently announced its involvement in a major deal, where it served as the capital structure advisor for Phorcys Capital Partners. This partnership resulted in securing two bank loans worth a total of over $21.7 million, which were used to finance two senior housing communities. The partnership resulted in the successful acquisition of two bank loans, totaling over $21.7 million, to finance two separate senior housing communities.
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Ziegler, a specialized investment bank, recently helped Phorcys Capital Partners secure a major financial deal. The partnership resulted in two bank loans, totaling over $21.7 million, which were used to invest in two senior housing communities.
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The first loan was a crucial part of acquiring Superior Residences of Clermont, an assisted living and memory care facility in Florida. Previously under court-ordered management, this 114-unit community will now be managed by SRI Management. The second loan was used to refinance Prosper at Wickliffe, a similar community in Ohio that Phorcys had previously acquired in April 2024. Both loans were provided by Stride Bank, showing their strong support for Phorcys’s strategic vision
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Christopher Utz, a Managing Director at Ziegler, highlighted that Phorcys Capital Partners has a keen eye for finding value in the senior housing market, particularly in communities that have been impacted by mismanagement. Vasileios Sfyris, Managing and Founding Partner of Phorcys, praised Ziegler and Stride Bank for their ability to provide custom-tailored debt solutions, which were crucial given the challenging market conditions. Stride Bank’s VP of Healthcare Banking, Ryann Inselman, also expressed her confidence in Phorcys’s expertise and their shared goal of improving the lives of seniors.
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Source : businesswire