ZIEGLER CLOSES FINANCING FOR BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY

CHICAGO, Jan. 13, 2026 /PRNewswire/ -- Ziegler is pleased to announce the successful closing of the $47,900,000 Series 2025 Bonds for Bishop Gadsden Episcopal Retirement Community (Bishop Gadsden).

Bishop Gadsden owns and operates a nonprofit life plan community located on James Island in Charleston, South Carolina, approximately six miles from downtown and six miles from Folly Beach. Founded in 1850, Bishop Gadsden provided housing for senior adults previously on the peninsula of Charleston and moved to its current location in 1987 on land donated by St. James Episcopal Church. Over the years, the community has grown to include a campus of 125 acres consisting of 283 independent living units, 79 assisted living units, 32 memory care units, and 100 skilled nursing beds (32 of which are rehabilitation beds), together with a variety of related common areas.

Bishop Gadsden Episcopal Communities (BGEC), the parent company established to facilitate future growth, became the controlling and supporting organization of Kiawah Life Plan Village, Inc. d/b/a Seafields by Bishop Gadsden (Seafields). Seafields is a life plan community on Kiawah Island, South Carolina that opened in late 2025 and consists of 88 independent living units, 16 assisted living units and provides skilled nursing services through an agreement with Bishop Gadsden. Neither BGEC or Seafields are members of the Bishop Gadsden Obligated Group.

Bishop Gadsden is embarking on capital improvements consisting of a variety of new, renovated or expanded settings on the campus to include: (1) expanded Wellness Center, including new aquatic complex, expanded fitness center with new training and cardio equipment, new locker rooms, new pickleball and multi-sport courts, new clinical pavilion with expanded PT suite, all anchored by gathering space in the Wellness Hub, (2) performing arts and event space projects (large new performing arts and multipurpose venue with an adjacent outdoor event courtyard), (3) culinary upgrades (expanded refrigeration, new catering/storage areas, kitchen enhancements), (4) meeting space and office projects (new resident meeting spaces, expanded board room and culinary service area, additional administrative offices and new restrooms), (5) additional parking, (6) new team member lounge and courtyard and (7) previously completed central plant improvements (HVAC/new chillers, etc.).

These capital improvements were funded with the Series 2025 Bonds, which are rated BBB- with a stable outlook by Fitch Ratings and will be issued through the South Carolina Jobs-Economic Development Authority. The Series 2025 Bonds have a 30-year final maturity with a wrapped debt service structure that results in a weighted average maturity of 20.03 years, and a blended yield to maturity of 5.13%. The offering attracted participation from nineteen institutional investors.

Tad Melton, Managing Director in Ziegler's Senior Living Finance Practice stated, "Ziegler has enjoyed a 20+ year relationship with Bishop Gadsden, one of the premier life plan communities in America. The Series 2025 financing will fund a series of campus reinvestment projects that round out a multi-year strategy of replacing and growing assisted living and skilled nursing, adding independent living and addressing needs for physical plant and amenity priorities. We are proud to be a partner with Bishop Gadsden as they advance their mission and serve their residents."

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.

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SOURCE Ziegler