Sims Secures Pre-Development
Financing for Future Campus Expansion
$4,000,000 | LANSING, MI | APRIL 2026
“The mission of Burcham Hills is to honor and enrich the lives of our residents. This expansion marks an important step in our strategic vision to extend the Burcham Hills continuum of care and vibrant community experience to more families, while ensuring residents thrive in a safe, engaging, and supportive environment. By investing in modern, scalable senior living infrastructure, we are creating long-term value for stakeholders and helping meet a significant underserved demand in the market.”
“We are sincerely grateful to HJ Sims for their partnership and expertise to assist Burcham Hills in our continued growth that will allow us to better serve the greater community. (The Sims) team’s financial insights and dependable execution have been invaluable to our success. We truly value the trust, professionalism, and strategic guidance (Sims) has brought to our collaboration. It is reassuring to work with a partner who is genuinely committed to our shared growth and long-term goals. Thank you for your continued dedication and for helping us navigate the market successfully. We look forward to achieving even more milestones together.”
Partnered Right®
HJ Sims’ relationship with Burcham Hills dates back 37 years to 1989. Building on the success of Burcham Hill’s StoneBriar expansion project, which HJ Sims financed in 2020, HJ Sims partnered with Burcham Hills again in 2026 to provide strategic advisory support as the organization advanced early-stage planning for a future independent living expansion. The objective was to secure short-term capital to fund pre- development and soft costs, while maintaining flexibility around the ultimate timing and structure of permanent capital.
Given the long-term nature of the campus master plan and the desire to remain opportunistic with respect to future capital markets execution, Burcham Hills, HJ Sims, and its development partner, LCS, prioritized a financing solution that addressed immediate planning needs without committing the organization prematurely to long term debt.
Structured Right®
HJ Sims worked with Burcham Hills and Michigan State University Federal Credit Union designed specifically to support pre development activities associated with the planned independent living expansion.
Key structural features included:
- A $4.0 million maximum commitment, sized to anticipated soft costs during the pre-development period
- Interest-only payments over a 24-month term Covenant levels consistent with the existing Master Trust Indenture (“MTI”) for the
outstanding bank and bond debt - New debt issued on a parity basis with community’s outstanding debt
- No prepayment penalty, preserving full optionality for future permanent financing
The resulting structure provided targeted access to capital while protecting the balance sheet and maintaining strategic flexibility.
Executed Right®
HJ Sims’ advised Burcham Hills on an alternative structure for the pre-development capital and evaluated multiple financing options. The financing was ultimately executed
as a bridge facility, building on Burcham Hills’ established banking relationship with the Michigan State University Federal Credit Union to deliver an efficient and timely solution. HJ Sims served as municipal advisor throughout the process, coordinating among the borrower, lender, and professional working group to align documentation, underwriting, and closing mechanics with the community’s broader capital structure.
The line of credit was structured as an efficient short-term financing to fund the predevelopment costs while preserving Burcham Hills’ ability to evaluate permanent financing options as the pre-development process and milestones advanced.
Financed Right®
The completed financing achieved Burcham Hills’ primary objectives:
• Secured dedicated pre- development funding ahead of future permanent capital
• Preserved flexibility around timing, structure, and source of long-term financing.
• Integrated with outstanding bank and bond under an existing Master Trust Indenture.
This disciplined, phased approach allows Burcham Hills to move forward thoughtfully while retaining optionality as market conditions and project plans evolve.
Aaron Rulnick
203.418.9008
Steven Hicks
240.207.1155
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