CHICAGO — Ziegler has served as capital structuring advisor in a $49 million debt placement on behalf of Symphony Care Network. The financing will fund the acquisition of a portfolio of two skilled nursing facilities and one supportive living facility located in the Lincoln Park and South Shore neighborhoods of Chicago.
Prior to the Transaction, Symphony already operated the communities, consisting of 475 licensed skilled nursing beds and 118 supportive living beds. The financing allowed Symphony to reacquire the portfolio’s real estate interest from a publicly traded REIT.
The transaction represented the final phase of a wider portfolio restructuring between the buyer and seller. Symphony’s overall portfolio totals over 30 properties throughout Illinois, Indiana, Wisconsin and Michigan.