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ILLINOIS — Ziegler served as exclusive capital structuring advisor in a $49.4 million debt placement on behalf of Symphony Care Network to finance the acquisition of a portfolio of four skilled nursing properties and one assisted living property in Illinois.
Symphony has operated the Portfolio since 2012, which consists of 616 licensed skilled nursing beds and 109 assisted living units. Symphony’s overall portfolio totals 29 properties throughout Illinois, Indiana, Wisconsin and Michigan.
The financing consists of two tranches: a $44.4 million senior secured term loan and a $5 million asset-backed line of credit, which was placed with a national healthcare lender.