Ziegler has announced the successful closing of a $24.16 million refunding transaction issued by the North Carolina Medical Care Commission for Deerfield Episcopal Retirement Community.

The CCRC, a new client for Ziegler’s, sits on 125 acres in Asheville, NC. It has 351 independent living units, 60 assisted living units and 62 skilled nursing beds.

Ziegler served as the placement agent for transaction, which resulted in a significant reduction in Deerfield’s future debt service. The proceeds will be used to refund the Series 2004A Fixed Rate Bonds in their entirety, refund the Series 2004B Adjustable Rate Bonds in their entirety and pay certain costs of issuance associated with the refinancing, the firm said.

This article originally appeared on McKnight's