ZIEGLER CLOSES $36,120,000 FINANCING CHANNING HOUSE (CA)

CHICAGO, Oct. 27, 2025 /PRNewswire/ -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of Channing House's $36,120,000 Series 2025AB Bonds (the "Bonds") through the California Municipal Finance Authority.

Channing House (the "Borrower") is a California nonprofit public benefit corporation and an organization described under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. The Borrower owns and operates a life plan retirement community (the "Community" or "Channing House") located on one acre of real property in Palo Alto, California, approximately 25 miles south of San Francisco. The Community consists of an 11 story, approximately 330,000 square foot building that houses 173 residential living units and 12 assisted living units and a two-story approximately 48,000 square foot building known as the Russel V.A. Lee Health Building located adjacent to the main tower, which contains 27 assisted living beds and 26 skilled nursing beds. In July 2025, the Borrower executed a Purchase and Sale Agreement to purchase a 13-unit residential living complex located at 430 Forest Avenue in Palo, Alto ("430 Forest"). Channing House plans to convert the property into new entrance fee residential living accommodations. The 430 Forest property is a two-building residential living complex located approximately two blocks (0.3 miles) from the existing Channing House location.

This transaction marks the Channing House's third financing with Ziegler, further supporting the execution of its strategic plan. The Bonds are insured through the Cal-Mortgage program and are rated "AA-" by S&P Global. The 2025 Bonds are Federally Taxable but exempt from State of California income tax. The 2025A Bonds are structured for level annual debt service through May 15, 2055, and are subject to optional redemption at par on May 15, 2035, with a Make-Whole call feature leading up to the optional redemption date. The 2025B Bonds are Taxable Mandatory Paydown Securities (TMPS^SM) and are expected to be redeemed at ~46% occupancy of 430 Forest.

Proceeds of the Bonds will be used to (i) to finance the costs of purchasing 430 Forest and certain related capital improvements; (ii) pay the insurance premium to the Cal-Mortgage insurance premium program; (iii) fund a debt service reserve fund; and (iv) pay certain of the costs of issuance of the Bonds.

"We were honored to continue our partnership with Channing House through this important financing," stated Daren Bell, Managing Director in Ziegler's Senior living Finance Practice. "This financing, and resulting acquisition, represents a strategic step forward for Channing House in expanding their mission-driven footprint and positioning the organization for continued growth and long-term success."

Ziegler is the nation's leading underwriter of financings for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.

For more information about Ziegler, please visit us at www.ziegler.com.

About Ziegler:
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on 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 services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit 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