Glendon B. Pratt

We served as bond counsel for National Church Residences, an Ohio nonprofit corporation that specializes in the development, construction and management of affordable and market rate housing for seniors in its 330+ facilities located in 28 states and Puerto Rico. In these transactions, we worked with our client - and its special purpose financial advisor - to create a flexible bond program. This allows separate series of bonds to be issued by the Public Finance Authority, a multi-jurisdictional issuer, for the benefit of various affiliates of our client.

One of the unique aspects of these transactions is that tax-exempt or taxable bonds for the benefit of different borrower-affiliates may be issued under a common master bond indenture, which allows for bonds of each series to be issued relatively quickly and efficiently for the benefit of our client and its affiliates. This enables our client to coordinate their capital needs with their acquisition and/or construction schedules.

$101,900,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue Bonds, Series 2011 (Bronson Healthcare Group Inc.) $22,900,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue Bonds (Bronson Healthcare Group, Inc.), Series 2011A (Tax-Exempt) and $79,000,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue Bonds (Bronson Healthcare Group, Inc.), Series 2011B (Taxable)

$155,315,000 County of Gallia, Ohio Hospital Facilities Revenue Refunding and Improvement Bonds, Series 2012 (Holzer Health System Obligated Group Project)

$177,975,000 County of Montgomery, Ohio Adjustable Rate Hospital Facilities Revenue Refunding Bonds, Series 2011 (Kettering Health Network Obligated Group)

$31,945,000 County of Lucas, Ohio Health Care Facilities Revenue Refunding and Improvement Bonds, Series 2010 (Lutheran Homes Society, Inc. Obligated Group Project)

$41,110,000 County of Montgomery, Ohio Health Care and Multifamily Housing Improvement and Refunding Revenue Bonds, Series 2010 (St. Leonard)