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.
Continue readingThe Need to Increase Senior Living Fees as Inflation Cuts into the Fixed Incomes of Residents and Prospects
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 readingA Message of Support for those Impacted by Hurricane Ian
Our 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 readingPhilip Gilboy: A tribute to a dear colleague and friend
We 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 Closes Life Insurance Company Loan for Assisted Living and Memory Care Community
HJ 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.
Continue readingHJ Sims and the Palm City Chamber of Commerce Announce Inaugural Event to Advocate and Celebrate Women in Business
HJ Sims Expands Investment Banking and Education Finance Team with Introduction of New Members
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.
Continue readingHJ Sims Closes $25.515 Million Series 2022 Bonds for Texas Public Charter School
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 Announces 1st Annual Private Wealth Management Summit
HJ Sims Triumphs in Closing USDA Financing for Evenglow’s $32 Million Expansion Project
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 Places Fannie Mae Loan for a Recently Completed Assisted Living and Memory Care Community in the Mountain West
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 readingASA 2022 On Aging Conference
HJ Sims Expands Public Finance Education Practice
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 2021 In Our Rear View Mirror
Sims 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.
Continue readingClark Retirement Community Announces Planned Affiliation with BHI Senior Living
“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 readingPending LIBOR Replacement
LIBOR, 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 readingCongratulations to Rebecca Beckett on earning her CFP® Certification
Sims Mortgage Funding Uses Note Modification to Refinance a Market Rate Multifamily Community
HJ Sims Raises $398 Million for New Retirement Community on SUNY – Purchase College Employing Ground Leasehold Mortgage to Secure Bonds
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 Partners with Clark Lindsey Village as the First Phase of a Repositioning Vision Becomes Reality
HJ 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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