Ziegler Advises Onelife Senior Living on $24M Construction Loan
Ziegler will be the advisor in a debt placement totaling $24 million on behalf of Onelife Senior Living to finance the construction of The Esther Assisted Living Community in Springfield, OR. The Esther will contain 103 units, and will be Onelife’s fifth assisted living and memory care complex in Oregon.
The financing will provide a construction and bridge term for Onelife to build and stabilize the community prior to placing long-term permanent, fixed-rate financing. The transaction was closed with asset management firm, Locust Point Capital, Inc.
Ziegler’s Eric Johnson, who led the transaction, stated in a news release, “We were pleased to find a financing solution that worked for our client and allowed them to go forward with the construction of this new community during a time of rising costs in both the debt markets and the construction industry.”