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Ziegler Closes on $102M Bonds for Saratoga Senior Living Expansion
Ziegler, an investment bank specializing in not-for-profit senior living providers, has closed on Odd Fellows Home of California’s $101,745,000 Series 2026AB Bonds through the California Statewide Communities Development Authority. The borrower operates two senior living communities, one in Saratoga and the other in Napa.
Odd Fellows Home of California has been operating its original senior living community in Saratoga since 1912 and will expand it. The Saratoga Project includes 52 new apartments across three new buildings and one new single-story cottage, a new 3,300 square foot auditorium with 16 garage parking spaces below, a new 1,000 square foot exercise room and dining room improvements.
Bond proceeds will be used to fund the Saratoga Project, fund debt service reserve funds, pay capitalized interest on the bonds for a period of 30 months and pay certain costs of issuing the bonds.
The financing marks Ziegler’s first with Odd Fellows Home of California.
- ◦Development
- ◦Financing
