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HOUSTON — Ziegler, a specialty investment bank, has closed $67.6 million in Bond Financing for Brazos Presbyterian Homes (BPH), the operator of Brazos Towers at Bayou Manor and the Hallmark, two continuing care retirement communities (CCRCs) in Houston.
Combined, the two communities feature 310 independent living units, 37 assisted living units, 18 memory care units and 69 skilled nursing beds.
BPH will use the tax-exempt, fixed-rate financing to pay off bonds from 2013 and fund a debt service reserve fund. The move will save the company approximately $3.3 million in debt payments.