Ziegler Closes $33,000,000 Financing For The Legacy Cares, Inc. Project
CHICAGO, June 17, 2021 /PRNewswire-PRWeb/ — Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $33,000,000 follow-on transaction for the Legacy Cares, Inc. Project.
Legacy Cares, Inc. (Legacy Cares) is a not-for-profit 501(c)(3) entity that was incorporated in the State of Arizona in 2018. Legacy Cares is an organization dedicated to creating life-changing opportunities for all individuals through access to family entertainment facilities centered on youth sports. Legacy Cares’ philosophy is to provide athletes and non-athletes of all ages, economic backgrounds and levels of athletic proficiency, the opportunity to participate in sports while fostering the enjoyment and camaraderie of teamwork and perseverance, key components in athletic competition and lifetime success.
The Legacy Sports Park will be operated by the Oak View Group, one of the largest venue management and event programming company that operates and manages sports parks, arenas, theaters, convention centers, and amphitheaters throughout the United States. Oak View Group is one of Silver Lake Partner’s (Silver Lake) portfolio companies. Silver Lake is the global leader in technology investing, with more than $60 billion in combined assets under management.
The Legacy Sports Park will be located on 320 acres in Mesa, Arizona with a target open date of January 2022, with the following:
- Multi-field soccer complex consisting of 22 soccer fields, with an additional twenty-four 24 – 46 fields for large tournament capacity
- A soccer stadium-type expanded field with an approximately 10,000-person seating capacity
- One auxiliary turf field with an approximately 5,000-person seating capacity
- An additional soccer field designated as a soccer-based performance training center
- 10 softball/youth baseball fields including an expanded stadium field
- 13 sand volleyball/sand soccer courts with a stadium court
- A pickleball complex consisting of 40 pickleball courts, one of which will be a stadium court
- An obstacle course racing compound with zip lines, a 12-lane batting cage training center
- Outdoor amphitheater with an approximately 1,000-person seating capacity
- An eSports video gaming/competition center, and space allocated for a track & field
- 16 NBA sized basketball courts
- 60 indoor volleyball courts
- Cheer, dance, and gymnastics facility
- A world class health, fitness, wellness clinic
The proceeds of the Series 2021 A&B Bonds will be used by Legacy Cares to: install over 2.1 million square feet of synthetic turf, add over 34,000 square feet to buildings A and B at the location of the project, expand on-site roadways and parking, and increase lighting. This is the second bond issuance for Legacy Cares, Inc., the first bond issuance of $250,770,000 closed in August 2020.
Douglas Moss, President, Legacy Cares, Inc. stated, “Legacy Cares, Inc and Legacy Sports USA, LLC would like to thank our bondholders and Ziegler for their continued support of Legacy Sports Park with this additional bond raise. These incremental funds will enhance the experience for all attendees of the Park upon opening in January, while assuring its long-term success as well.”
With over 100 years of raising capital for communities nationwide, Ziegler specializes in general municipal and structured finance. Combined with our broad primary market distribution and secondary market issuance, we offer both public and corporate finance, project finance and securitization. With expertise in real estate development, infrastructure finance, public private partnerships, energy and incremental tax-exempt general obligations, our banking professionals customize creative, tailored solutions that meet our clients’ strategic and financial goals.
For more information about Ziegler, please visit us at http://www.ziegler.com.
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit http://www.ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
Christine McCarty, Ziegler, 3125961617, [email protected]
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