Ziegler Arranges $120M Bond Financing for Nonprofit Owner-Operator HumanGood

PLEASANTON, Calif. — Ziegler has arranged $120 million in tax-exempt bond financing for HumanGood, a nonprofit owner-operator based in Pleasanton.

HumanGood was formed with the merger of American Baptist Homes of the West and be.group in 2017. The company owns and operates 14 continuing care retirement communities (CCRCs throughout California, totaling 2,188 residential living apartments, 477 assisted living apartments, 161 memory support suites and 656 skilled nursing beds.

The bonds will be used to fund capital projects and renovations at 13 of its 14 campuses. Projects will include upgrades to housing units and amenities areas including elevators, HVAC, roofs, generators, lighting, plumbing, balconies and various other areas. A subset of the proceeds has been designated to finance a portion of the cost of a new replacement health center project at Valle Verde, Crestmont Tower renovations at Piedmont Gardens and the construction of additional independent living accommodations at Westminster Gardens.