{"id":1004035629,"date":"2012-01-03T12:29:51","date_gmt":"2012-01-03T20:29:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035470"},"modified":"2022-12-09T02:53:34","modified_gmt":"2022-12-09T10:53:34","slug":"covenant-retirement-communities-achieves-59-1m-in-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/","title":{"rendered":"Covenant Retirement Communities Achieves $59.1M in Financing"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/p>\n

Ziegler has facilitated a tax-exempt bank direct purchase on behalf of Covenant Retirement Communities. The direct purchase, completed by JP Morgan Chase, came in the form of two series of bonds totaling approximately $59.1 million.<\/p>\n

The bonds included approximately $15.8 million of Series A product and $43.3 million of Series B. The majority of the proceeds were utilized to refund outstanding Series 1999 , Series 2004 and Series 2006 bonds. Additionally, a sum of roughly $6 million was reserved to finance capital improvements for several CRC facilities in Colorado, Illinois and Michigan. The seniors housing company has 15 continuing-care retirement community, independent living and assisted living locations in eight states from coast to coast.<\/p>\n

The closing of the Series 2011 bonds marks a milestone for the Illinois Finance Authority, as the bonds constitute the agency’s first multi-state issuance after becoming a multi-state conduit issuer in July 2010.\u00a0 “Gov. Pat Quinn and the Illinois General Assembly recognized that multi-state conduit issuance authority is an important tool to both retain and create jobs in Illinois,” Chris Meister, IFA executive director, noted in a prepared statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ziegler has facilitated a tax-exempt bank direct purchase on behalf of seniors housing company Covenant Retirement Communities. The direct purchase came in the form of two series of bonds totaling approximately $59.1 million and representing the first multi-state bond issuance by the Illinois Finance Authority.<\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21754,21742],"tags":[],"class_list":["post-1004035629","post","type-post","status-publish","format-standard","hentry","category-finance","category-medical-office","category-latest"],"acf":[],"yoast_head":"\nCovenant Retirement Communities Achieves $59.1M in Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covenant Retirement Communities Achieves $59.1M in Financing\" \/>\n<meta property=\"og:description\" content=\"Ziegler has facilitated a tax-exempt bank direct purchase on behalf of seniors housing company Covenant Retirement Communities. The direct purchase came in the form of two series of bonds totaling approximately $59.1 million and representing the first multi-state bond issuance by the Illinois Finance Authority.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-03T20:29:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:53:34+00:00\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Covenant Retirement Communities Achieves $59.1M in Financing\",\"datePublished\":\"2012-01-03T20:29:51+00:00\",\"dateModified\":\"2022-12-09T10:53:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/\"},\"wordCount\":185,\"commentCount\":0,\"articleSection\":[\"Finance\",\"Medical Office\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/\",\"name\":\"Covenant Retirement Communities Achieves $59.1M in Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2012-01-03T20:29:51+00:00\",\"dateModified\":\"2022-12-09T10:53:34+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/covenant-retirement-communities-achieves-59-1m-in-financing\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Covenant Retirement Communities Achieves $59.1M in Financing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/barbra-murray\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Covenant Retirement Communities Achieves $59.1M in Financing - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/","og_locale":"en_US","og_type":"article","og_title":"Covenant Retirement Communities Achieves $59.1M in Financing","og_description":"Ziegler has facilitated a tax-exempt bank direct purchase on behalf of seniors housing company Covenant Retirement Communities. The direct purchase came in the form of two series of bonds totaling approximately $59.1 million and representing the first multi-state bond issuance by the Illinois Finance Authority.","og_url":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2012-01-03T20:29:51+00:00","article_modified_time":"2022-12-09T10:53:34+00:00","author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/"},"author":{"name":"Barbra Murray","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"headline":"Covenant Retirement Communities Achieves $59.1M in Financing","datePublished":"2012-01-03T20:29:51+00:00","dateModified":"2022-12-09T10:53:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/"},"wordCount":185,"commentCount":0,"articleSection":["Finance","Medical Office","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/","url":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/","name":"Covenant Retirement Communities Achieves $59.1M in Financing - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2012-01-03T20:29:51+00:00","dateModified":"2022-12-09T10:53:34+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/covenant-retirement-communities-achieves-59-1m-in-financing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Covenant Retirement Communities Achieves $59.1M in Financing"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004035629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004035629"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004035629\/revisions"}],"predecessor-version":[{"id":1004615243,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004035629\/revisions\/1004615243"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004035629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004035629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004035629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}