Ziegler Arranges $52M Financing for American Baptist Homes of the West

PLEASANTON, CALIF. — Ziegler, a specialty investment bank, has arranged $52 million in financing for American Baptist Homes of the West (ABHOW).

Founded in 1949 as Pilgrim Haven Home Corp., ABHOW owns and operates seven continuing care retirement communities (CCRCs) in California. The company also manages four affiliated CCRCs.

Proceeds of the bonds will be used to refund 2006 bonds, reimburse the company for $11 million in prior capital expenditures, and fund $9 million in new projects.