Market Commentary: All That Glitters is Not Gold

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On Capitol Hill, yeoman’s work is needed to achieve consensus on the thorniest of issues, the legislative product of the most contentious of negotiations. This week, the whips on both sides of the aisle and in both chambers of Congress are hard at work trying to rapidly round up votes for a bill that will suspend the debt limit, set some new federal spending guidelines, and address other issues that have, for various reasons, suddenly fallen under the umbrella of extreme urgency. It is not unlike the annual effort to enact a budget framework and then an omnibus spending bill. The whole process is described as being like trying to put socks on an octopus.

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Broadview at Purchase College Celebrates Grand Opening

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On May 2, 2024, Broadview at Purchase College celebrated its grand opening with hundreds in attendance. Constructed on leased land on the campus of the State University of New York – Purchase College, Broadview has 222 independent living apartments and villas, 68 assisted living and memory care suites along with a variety of amenity and social areas. A key attribute of the community is its close proximity to the center of the campus and strong emphasis on multi-generational learning.

The community was financed with approximately $398 million in tax-exempt bonds issued through the Westchester County Local Development Corporation with HJ Sims as sole underwriter.

Broadview welcomed its first residents in mid-December 2023 with new residents moving in at a very rapid pace. As of the grand opening, over 80% of the independent living units were occupied with the more scheduled for the coming months. To date just over $100 million in short-term bonds have been redeemed with entrance fees paid by residents. Based on scheduled move-ins, it is anticipated that the remaining $78 million in short-term bonds will be repaid on July 1, 2024, as occupancy reaches 85%.

2024 UAPCS Charter School Conference

John Koene

Managing Director

Fairfield, CT
Red Bank, NJ
(732) 590-0533  direct line

  • Financial Professional and Branch Manager holding series 7, 24, 63 licenses

“When life gives you lemons, make lemonade.”

John joins HJ Sims as Managing Director, leading an esteemed team of private client financial professionals for the northeast complex, including the Fairfield, CT and Red Bank, New Jersey offices. A highly respected leader, John attributes his leadership skills to his diverse past experiences as a business owner and entrepreneur. John attended University of North Carolina, Greensboro, seeking a degree in business. Following a life-altering medical accident, John instead pursued a series of independent business ventures. At age 22, John opened his own fresh-squeezed lemonade store on the boardwalk in Ocean City, Maryland, kick starting his involvement as a small business owner in the restaurant, jewelry (and even Christmas tree farm) industry.

John has more than a decade of experience in the financial industry holding roles as Assistant Manager and Senior Vice President/Branch Manager. Prior to his financial industry career, John worked in the retail and wholesale mortgage industries, serving in various sales and executive managerial positions, including Regional Sales Manager.

John meets each challenge, finding the positive, in order to create opportunity for his clients. You can take it from John—he literally took lemons and made a lemonade business!

John lives with his wife, Pam, in Brielle, NJ, along with their three daughters, Autumn, Hope, and Isabelle.

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