Technology News All about technology


Ziegler Closes $24M Santa Rosa Academy Charter School, Series 2012 Issue

Chicago, IL (PRWEB) June 14, 2012

Ziegler, a specialty investment banking firm, is pleased to announce the successful closing of a $ 24 million financing for Santa Rosa Academy (Santa Rosa). Santa Rosa is a charter school in Menifee, California, approximately 75 miles southwest of Los Angeles. Santa Rosa was opened in September 2005 by a group of teachers and administrators. Its initial enrollment consisted of 59 home-schooled students and seven staff members. The school started operating out of a garage while its leased offices were being built. Since then, Santa Rosa has grown to approximately 956 students and 54 staff members. Menifee Union School District, who approved the charter in 2005, renewed the charter in 2009 for a period of five years.

The Series 2012 bond proceeds will be used to acquire a new site and fund construction of the first of two project phases. Phase I will include a total of 67,065 enclosed sq. ft. across seven structures. Academic facilities include an elementary school building, a middle school building and a high school building. Phase I also includes a library/tech center, an administration building, a student pavilion and a security building, as well as outdoor playground areas, basketball courts, and courtyard area. Phase II, which will not increase capacity, will include a theater, gymnasium, soccer field and baseball field.

Santa Rosas steady enrollment growthenrollment has increased every year, almost tripling from 331 in FYE 2008 to 956 by FYE 2012is a testament to the strong demand for the schools academic programming. Santa Rosa has benefited from smaller class sizes and a hybrid program that includes three academic tracks: a full-time classroom track, a part-time classroom track and a full-time independent study track. All students, including independent study students, are required to spend time on campus and have access to school facilities for study and research. Financial performance has also been strongdespite funding cuts and continued funding deferrals by the state, the school has maintained solid cash flows.

Although Santa Rosa has no control over state funding, the schools historical performance demonstrates its ability to cut expenses and adapt to unexpected funding deferrals. Ziegler worked closely with Santa Rosa to demonstrate the truly hybrid nature of the independent study program.

Ziegler was pleased to have had the opportunity to work with the Santa Rosa team, Michael Braun, Director at Ziegler stated. They have a unique educational product that obviously serves their community very well. The demand for their school is tremendous, with enrollment tripling over the last three years and a waiting list that is more than sufficient to fill the open seats created by the new construction project. This demand led to significant investor interest that enabled Ziegler to price the bonds at a level that exceeded client expectations.

With more than 100 years of experience, Ziegler is a recognized leader in the educational sector throughout the U.S. That tradition continues today with its dedicated services to the charter school market nationally. Ziegler is ranked as the number one underwriter (in par value) for charter schools in 2011 according to the Electronic Municipal Market Access database (EMMA). Ziegler provides creative, tailored financial solutions for any type of charter school. Ziegler is one of the few financial services firms in the country that has a dedicated team of charter school finance professionals.

For more information about Ziegler Charter Finance, please visit us at

About Ziegler:

The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.

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 clients 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.

# # #

Related Tech Press Releases

Comments (0) Trackbacks (0)

No comments yet.

Leave a comment

No trackbacks yet.