Have you ever heard the saying may you live in interesting times? That was the watchword for Sims Mortgage Funding, Inc. last year, as higher interest rates and increasing construction costs posed a significant challenge to their deal pipeline.
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Forty-year high inflation rates have impacted every aspect of communities offering independent living, assisted living, memory care, and/or skilled nursing on both the non-profit and for-profit sides.
Continue readingOur thoughts and prayers are with all of those impacted by Hurricane Ian. We salute those on the ground assisting in the relief and recovery efforts.
Continue readingWe are profoundly saddened at the passing of our dear colleague and friend, Philip Gilboy. Phil passed away suddenly and unexpectedly on Friday, September 23, 2022. Based in Charlotte, NC, Phil led our Trading and Institutional teams.
Continue readingHJ Sims is pleased to announce that it was recently successful in bringing a new solution to a valuable client seeking to refinance and pay off construction debt of an assisted living and memory care community by employing a fixed-interest, 10-year term for a non-recourse loan.
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PALM CITY, FL– HJ Sims, wealth management, investment banking and institutional services firm founded in 1935, Rebecca Beckett, CFP®, Senior Vice President and Financial Advisor, and the Palm City Chamber of Commerce are pleased to announce the inaugural Women in Business Summit on September 22, 2022 at Charlie Leighton Park in Palm City, FL.
Coinciding with American Business Women’s Day to advocate and celebrate women in business and leadership positions throughout the community; the summit will feature exhibits, sessions and insights by local, accomplished businesswoman. Topics will range from finance, education, business management to health & wellness in order to provide attendees with valuable knowledge, tools and resources that emphasize the issues directly impacting today’s businesswomen.
“We are looking forward to this special day, and are thrilled to be able to host an event of this caliber. In fact, we have extended an invitation to all of our local, female dignitaries of Martin County, and plan to commemorate the summit with a ribbon cutting ceremony just before the official kick-off at 2pm.” stated Missi Campbell, Executive Director of the Palm City Chamber of Commerce.
Speakers include: Rebecca Beckett, CFP®, HJ Sims; Amanda Foster, Mortgage Specialist, Zarro Mortgage Group; Joan Goodrich, Executive Director, Martin County Business Development Board; Dr. Lisa Grassam, Chiropractor and Owner, Grassam Spine & Wellness Center; Donna Linton, Reverse Mortgage Advisor, Zarro Mortgage Group; Jill Marasa, Director of Development, Ashley Capital; and Joanne Zarro, President, Zarro Mortgage Group.
Exhibitors include: Ashley Capital, Capstone IT, Colorado Pawn & Jewelry, Crafted the Store, Dultmeier Photography, Eagle Insurance, Grassam Spine & Wellness Center, Hell Gate Sea Dragons, HJ Sims, Inner Truth Project, Martin County Business Development Board, N2 Architecture, O’Donnell Impact Windows & Storm Protection, Pampered Chef Independent Consultant, Personal Training by Celeste, Sandhill Cove, Schaffer Mortgage Corporation, Skin Serenity Spa, White Glove Moving & Storage and Zarro Mortgage Group.
The summit will be held from 2:00 pm to 5:00 pm on September 22 at the Palm City Community Center at Charlie Leighton Park in Palm City, FL. For more information and to RSVP to attend this free event, visit hjsims.com/2022-women-in-business-summit/.
CERTIFIED FINANCIAL PLANNERTM: Rebecca Beckett: 561.620.2173 | rbeckett@hjsims.com
ABOUT HJ SIMS: Founded in 1935, HJ Sims is a privately held investment bank and wealth management firm. Headquartered in Fairfield, CT, Sims has nationwide investment banking, private wealth management and trading locations. Member FINRA, SIPC. Testimonials may not be representative of another client’s experience. Past performance is no guarantee of future results. Facebook, LinkedIn, Twitter, Instagram.
ABOUT PALM CITY CHAMBER OF COMMERCE:
The Palm City Chamber of Commerce’s mission is to serve as the principal advocate of the community and its businesses, acting as the catalyst in promoting the economic development of the Palm City area, stimulating jobs, and improving the quality of life. We actively participate in our local community to strengthen Martin County and all it has to offer to our residents and visitors.
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HJ Sims is pleased to announce the addition of four investment bankers, expanding its education finance team, which provides comprehensive capital planning, structure and execution for charter schools, public and private education systems and institutions.
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HJ Sims announces the closing of a $32 million USDA-financed expansion project for Evenglow Lodge in Pontiac, IL. In accordance with USDA-debt requirements, proceeds of the financing will be used for the construction of 76 replacement assisted living units, common space and other space used by the Health Center, as well as for the demolition of the existing assisted living structure.
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The HJ Sims Private Wealth Management Group is pleased to announce our first annual Private Wealth Management Summit. The internal Summit will be hosted on May 31st through June 3rd at The Boca Raton resort in Boca Raton, FL, a short drive from HJ Sims’ Boca Raton office. The theme of this year’s Summit is alternative investments, a hot topic in private wealth management.
The Summit is an opportunity for HJ Sims financial professionals to gather for education, collaboration, inspiration and a little fun under the sun. As we continue to grow, it is important for advisors to stay on top of the pulse in the industry so they can share their knowledge and provide clients with their best service.
Alternative investments are any financial asset that does not fall into one of the conventional investment categories, such as stocks, bonds and cash. Alternative investments include real estate, private equity, hedge funds, venture capital and collectibles.
Our three-day Summit will feature education sessions on products, solutions and technology advancements from leaders in the alternative investment space.
Thank you to our 2022 Summit sponsors!
The information contained herein is subject to change without notice. Under no circumstances shall this constitute an offer to sell or solicitation of an offer to buy. Investments involve risk including the possible loss of principal. HJ Sims is a member of FINRA and SIPC, and is not affiliated with The Boca Raton, NexPoint, InspereX, First Trust, Capital Square, One Oak, Glide Capital, Apollo, Blue Rock, WhiteHawk Energy or PCS.
HJ Sims announces the closing of a $32 million USDA-financed expansion project for Evenglow Lodge in Pontiac, IL. In accordance with USDA-debt requirements, proceeds of the financing will be used for the construction of 76 replacement assisted living units, common space and other space used by the Health Center, as well as for the demolition of the existing assisted living structure.
Continue readingHJ Sims is pleased to announce the successful closing of a November 2021, $398.1 million tax-exempt and taxable bond issue for Purchase Senior Learning Community, Inc., formed to develop a new university-based retirement community, Broadview at Purchase College, being constructed on the State University of New York Purchase College campus in Purchase, NY.
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2022 On Aging Conference
The theme of the 2022 Conference is Advancing Economic Security.
HJ Sims is proud to be a thought leader and present at On Aging, considered to be the nation’s largest multidisciplinary conference on aging.
Reaching a Diverse Middle Market through Innovative Engagement, Funding & Design Strategies
Session Description:
Explore programming, engagement, design and funding strategies to develop age-friendly, diverse, middle market housing. This session will delve into the formation of key strategic partnerships for successful community integration and inclusion. The panel will highlight housing strategies that address the key themes of Innovation and Social Impact, Economic Security and Justice and Equity.
Panelists:
Attendance:
HJ Sims is pleased to announce the addition of two senior bankers, Richard Harmon and Robert Nickell, expanding the firm’s public finance education practice. The HJ Sims public finance team provides comprehensive capital planning, structure and execution for charter schools, public and private education systems and institutions.
Continue readingSims Mortgage Funding’s very successful 2021 can be described in a single word – refinance. We completed eleven refinancing deals last year, totaling approximately $131 million, for existing clients who had HUD-insured loans already in place.
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“When our Board of Trustees chose HJ Sims to represent Clark in identifying and evaluating potential affiliation partners it was due to two key factors: 1) HJ Sims reputation and experience in working with non-profit, faith based Life Plan Communities through this process and 2) Clark’s ability to work with Lynn Daly. Lynn has consistently demonstrated to me and my Board a willingness to know and embrace our mission, vision and values over the time we have worked with her. She is also honest and frank about the process and how it will work. We are very pleased with the work and support received from HJ Sims and Lynn Daly and we look forward to continuing our relationship with them for years to come.” – Brian Pangle, President/CEO, Clark
Continue readingLIBOR, which has been the primary index upon which Senior Living Bank Loans and Swaps have been denominated in new and existing financings, is to be discontinued and as such a replacement index is needed. Borrowers should consider the use of an alternate index, and this piece provides expertise on the pending LIBOR replacement as a consideration for senior living organizations.
Continue readingHJ Sims is thrilled to congratulate our Jupiter, FL-based Rebecca Beckett on accomplishing her goal of earning the Certified Financial Planner™ professional certification.
Rebecca recently passed the CFP® certification examination and met the additional requirements to earn the designation. We are proud to recognize this significant accomplishment and Rebecca’s hard work and determination. The CFP® designation is the highest standard of excellence in the field of personal financial planning.
The path to CFP® certification is a rigorous but rewarding process, equipping candidates like Rebecca with the knowledge and skills to assist with providing comprehensive financial advice to clients. Successful candidates complete a multi-year, multi-step process to obtain the skills and real-life experience needed to serve your best interests, no matter what your financial goals are. They pledge to adhere to high ethical and professional standards for the practice of financial planning, always putting your welfare first. CFP® professionals are trained in the fundamentals of financial planning, estate planning, insurance planning, investments, retirement planning and tax planning. They can provide a detailed financial plan supporting all areas of your financial life, or offer advice about a specific financial need.
As a CFP® professional, Rebecca offers financial planning services incorporating a holistic view of her clients’ financial and personal circumstances. Financial planning is the output of a collaborative process that helps maximize your potential for meeting your life goals. With more than 15 years’ experience in financial services, Rebecca is passionate about helping instill investment confidence an offering tailored guidance for her clients.
Next time you speak with Rebecca in our Jupiter office, be sure to join us in congratulating her on this brilliant professional milestone.
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Information is provided as a public service by Certified Financial Planner Board of Standards, Inc. (CFP Board). A nonprofit, professional organization, CFP Board fosters professional standards in personal financial planning so that the public values, has access to, and benefits from competent and ethical financial planning.
CFP® certification marks are owned by Certified Financial Planner Board of Standards, Inc. (CFP Board). Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the CFP® certification process that includes education, examination, experience and ethical requirements.
by Anthony Luzzi
“When you work with a mortgage banker for 15 years they become as much a part of your team as your architects, engineers and contractors. They have consistently delivered positive results and have closed deals that otherwise would have never happened. Their knowledge of each HUD program is unsurpassed, and it is very obvious that every HUD office they have worked with has the utmost confidence and respect for their team. With the respect from the different offices, they are able to reach out to the higher levels of HUD to solve problems. We look forward to working with Sims for many years to come and we strongly recommend them to any company interested in completing a HUD loan.”
– David Alexander, Managing Partner, Vintage Realty Company
PARTNERED RIGHT
In 2018 we originated an $26,172,500 FHA-insured Section 221(d)(4) loan that financed construction of Elan at Terra Bella a 178-unit market-rate apartment project located in a planned community. The Project was developed and is managed by Vintage Realty Company, a privately owned, full-service real estate firm specializing in the brokerage, leasing, property asset management, development, and construction.
Interest rates had declined since the original financing, providing Vintage with the opportunity to generate debt service savings. We advised them of this positive development in the market and suggested a refinancing structured under HUD’s Mortgage Note Modification/Interest Rate Reduction (IRR) protocol.
STRUCTURED RIGHT
Acting as Financial Advisor, we developed the initial financial modeling of the transaction and coordinated the development of the formal IRR proposal with the existing loan servicer, whom we brought into the 2014 refinancing. The entire transaction took approximately 75 days to complete.
EXECUTED RIGHT
The IRR reduced the interest rate by 22% and will generate total debt service savings of approximately $6.2 million through the remaining term of the loan.
FINANCED RIGHT®
The IRR, completed three years after our initial financing, is another example of SMF maintaining long-term relationships with our clients and delivering to them ongoing value. Sims has closed 26 HUD-insured loans for Vintage since 2002.
For more information, please contact Kerrie J. Tomasiewicz at ktomasiewicz@simsmortgage.com.
Sims Mortgage Funding, Inc. originates, underwrites, and funds loans for Healthcare, Multifamily and Hospital projects. We have completed over $2 billion in HUD-insured transactions and are an approved LEAN (healthcare) and MAP (multifamily) lender.
Sims Mortgage Funding, Inc. is a wholly owned subsidiary of HJ Sims.
HJ Sims is pleased to announce the successful closing of a November 2021, $398.1 million tax-exempt and taxable bond issue for Purchase Senior Learning Community, Inc., formed to develop a new university-based retirement community, Broadview at Purchase College, being constructed on the State University of New York Purchase College campus in Purchase, NY.
Continue readingHJ Sims is pleased to announce the successful closing of a September 2021, $8.781 million taxable note on behalf of Clark Lindsey Village. Established in 1978, Clark Lindsey Village is a not-for-profit Life Plan Community located in Urbana, Illinois. Today, the campus encompasses all levels of care with 147 units of Independent Living; 12 units of Memory Care and Assisted Living; as well as 105 beds dedicated to Skilled Nursing. It is one of eight communities in the nation to have earned the designation as a “Center for Successful Aging.”
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