Ziegler Prices $175,000,000 Financing for Beacon Hill at Eastgate (MI)

CHICAGO, Dec. 9, 2025 /PRNewswire/ -- Ziegler, a specialty investment bank, is pleased to announce the successful pricing of Beacon Hill at Eastgate's $175,000,000 Series 2025 Bonds (the "Bonds") through the Economic Development Corporation of the City of Grand Rapids. The Bonds are scheduled to close December 18, 2025.

Michigan Christian Home d/b/a Beacon Hill at Eastgate (Beacon Hill) is a Michigan nonprofit corporation and 501(c)(3) organization that was founded in 1951 by area Baptist churches to provide senior living and healthcare services in a Christian environment. Today, Beacon Hill owns and operates a continuing care retirement community (the "Community") in the Eastgate neighborhood of Grand Rapids, offering a multitude of residential and care options to its residents.

Proceeds of the Bonds will be used to (i) finance a planned expansion at the Community (the "Expansion Project"), (ii) pay capitalized interest on the Bonds through July 2028, (iii) make a deposit to the debt service reserve fund, and (iv) pay certain costs of issuing the Bonds.

Like prior expansions dating back to 2010 at Beacon Hill, Greenbrier Development served as the development consultant, providing strategic guidance and development support throughout the process. The Expansion Project included the following:

• Construction of 101 independent living units
• Construction of 48 replacement assisted living units
• New common areas to support resident life, including a pedestrian bridge, coffee shop, dining room, café, bar venue, game room, lounge/living room areas, and a wellness center with fitness, yoga, spa services and an outdoor wellness terrace
• Renovation of the existing health center building including upgrades and redesigned layouts to convert 29 skilled nursing beds to 14 assisted living plus units and 15 memory support units
• Demolition of 20 rental independent living apartments
• Demolition of the Mary and Martha Center which currently houses assisted living units

The Bonds are tax-exempt, non-rated and structured as follows:

• $108,000,000 Series 2025A Bonds - long-term fixed rate bonds amortizing over 35 years through November 2060
• $67,000,000 Series 2025B Bonds (TEMPS^SM) - short-term fixed rate bonds expected to be repaid at approximately 50%, 70% and 80% occupancy of the new independent living units respectively.

Jeff Huegli, President and CEO, Beacon Hill commented, "For nearly two decades, Brandon Powell's steady guidance has supported Beacon Hill as we've reimagined the Beacon Hill campus. His expertise, along with Ziegler's partnership, has been instrumental in advancing each phase of our vision and positioning us as a leader in senior housing and healthcare in West Michigan. These Bonds will help us create Independent and Assisted Living homes for the next generation. I am sincerely grateful to Brandon and the Ziegler team for their ongoing support."

Brandon Powell, Managing Director in Ziegler's Senior Living Finance Practice added, "This transaction marks the fourth consecutive phase I have had the privilege to support, underscoring the strong strategic partnership Ziegler has developed with Jeff Huegli and the stakeholders of Beacon Hill. This Expansion Project will meaningfully transform the campus, and we are pleased to have successfully placed $175 million of non-rated bonds at attractive interest rates, amid a weakening bond market for Beacon Hill."

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