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SIOUX FALLS, S.D. — Cain Brothers has arranged $40 million in taxable bank direct-purchase bonds for The Evangelical Lutheran Good Samaritan Society, a nonprofit operator of seniors housing based in Sioux Falls.
Founded in 1922, the society operates skilled nursing facilities, senior apartments, home health services and affordable housing in over 230 locations in the United States.
Proceeds from the financing were used to pay down a line of credit that was initially drawn upon to fund the purchase of a home health agency that provides services in New Mexico and Arizona. The acquisition more than doubled the society’s existing home health business.
Cain Brothers arranged the financing through an undisclosed bank.