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Ziegler Closes Sandals Church Financing

Ziegler Closes Sandals Church Financing

Sandals Church will be getting some new renovations this year thanks in part to Ziegler.

Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $15,675,000 Series 2015 Bond issue for Sandals Church in Riverside, Ca.
 
Proceeds of the 2015 Series Bonds were used to refinance the ministry's outstanding mortgage debt incurred to purchase and renovate the church's existing 15-acre campus located on Palmyrita Avenue in Riverside, and to pay the costs of a construction and renovation project at the campus. The church campus is comprised of two ministry facilities with total space of approximately 185,000 square feet, as well as an excess land parcel located across the street from the two buildings.

The scope of the construction and renovation project includes creating a new 2,500-seat sanctuary, new administrative space, an additional 350-space parking lot, relocating the youth ministry space, upgrading campus signage and purchasing various furniture, fixtures and equipment. 

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