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LEBANON, Ohio — Ziegler has arranged $8.5 million in financing for Otterbein Homes, a Lebanon-based operator of senior living communities in Ohio and Indiana.
Otterbein’s portfolio includes 1,300 independent living units, 450 assisted living units and 1,000 skilled nursing units across its eight SeniorLife Communities and nine Neighborhoods.
In 2020, Otterbein acquired Sunset Retirement Communities, a life plan community with two locations in northwest Ohio. The financing will include these two new additions to Otterbein’s portfolio.
Proceeds of the bond financing, along with other available funds, will be used to refund Sunset’s 2011 bonds and to pay certain costs of issuance.