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ZIEGLER CLOSES $51,765,000 FINANCING FOR ST. JAMES PLACE OF BATON ROUGE
CHICAGO, Aug. 18, 2026 /PRNewswire/ — Ziegler, a national boutique investment bank, is pleased to announce the successful closing of the Series 2026 Bonds for the benefit of St. James Place of Baton Rouge (St. James Place).
St. James Place is a Louisiana not-for-profit corporation that was established in March 1980. St. James Place operates a lifecare, entrance-fee based continuing care retirement community (CCRC) containing independent living, assisted living, memory care, and skilled nursing units located on a 49-acre campus (the “Community”) approximately one mile from Louisiana State University. When the Community opened in 1983, it became the first CCRC in the state of Louisiana and remains the only CCRC in Baton Rouge, the state capital.
The Community currently consists of 210 independent living residences, 48 assisted living residences, 15 assisted living memory care units, 62 skilled nursing beds and 26 memory support nursing beds. Common area amenities include a fishing lake, fitness center, enclosed heated swimming pool, salon, café, two dining venues, two auditoriums, a meditation chapel, library, and additional resident gathering spaces.
St. James Place will use the proceeds of the Series 2026 Bonds, together with other funds, to refund the outstanding Series 2015A Bonds to achieve annual debt service savings; provide for the reimbursement of certain previously incurred capital expenditures; fund a debt service reserve fund; and to pay the costs of issuance. Ziegler assisted St. James Place in securing a rating of BB+ (stable) from Firch Ratings on the Series 2026 Bonds. The Series 2026 Bonds are fixed rate, tax-exempt bonds structured to provide level annual debt service with a final maturity in 2045, matching the final maturity of the refunded bonds.
“Rich Scanlon helped us put together a great team and shepherded us expertly through the entire process. Ziegler earned their keep when representing us in the market, getting us the best rate possible,” said Dick Wager, President and Chief Executive Officer for St James Place.
Rich Scanlon, Senior Managing Director, Senior Living Finance at Ziegler stated, “Ziegler and St. James Place have maintained a strong relationship since our underwriting of the Series 2015 Bonds. We were fortunate to find an attractive capital markets environment, aided by the Fitch BB+ rating, which allowed St. James Place to refund their 2015A Bonds and generate $337,000 in annual debt service savings through 2045. Ziegler looks forward to remaining a strategic partner of St. James Place in the coming years as they consider additional opportunities to provide a high level of service to seniors in the Baton Rouge market area.”
