Clark 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 reading

Mennonite Health Assembly 2022

Mennonite Health Society Logo

MHS’s Mennonite Health Assembly

HJ Sims is proud to be an MHS Supporter Sponsor.

Thought Leadership and Educational Session:

The Power of Innovative Senior Services Boards

Session Date & Time: Friday, March 25, 2:30 – 3:30 pm

Session Description: Not-for-profit senior living management teams expect their boards to be forward-thinking, strategic and innovative. Innovation at the board level is a function of various elements, including a defined strategic direction and best practices in place. So, what does an effective board look like? What are some tools boards can use to remain focused on their organizations’ mission? ? Does the board or management create the strategic plan?

Join Baker Tilly and HJ Sims, together with the Board Chair and Chief Operating Officer of Landis Communities, for an informative an interactive discussion that will explore elements of an innovative board although anyone is welcome.

  • Learn the 12 principles of governance that power exceptional boards and how they can be applied to your organization.
  • Gain and understanding of how to shift the board from crisis management back to strategic planning.
  • Refresh your knowledge of the roles and responsibilities of governing boards, post-pandemic, and be able to share that wisdom with your board.

Featured Speakers:

  • Lynn Daly, Executive Vice President, HJ Sims
  • Beverly Asper, Baker Tilly
  • Evon Bergey, Landis Communities
  • Allon Lefever, Landis Communities

Contacts:

REQUEST INFORMATION ON THIS PRESENTATION

As we continue to experience fluctuations in our capital markets, HJ Sims is committed to Tracking the COVID-19 Impact.

Learn More

Pending LIBOR Replacement

HJ Sims Logo

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 reading

Plantation Village (November 2021)

Plantation Village Logo

HJ Sims Partners with Plantation Village, a life plan community, which opened in 1988 in Wilmington, North Carolina, to Facilitate Approximately $65 Million Hybrid Expansion Financing involving Short-Term and Intermediate-Term Draw Down Bank Debt and Long-Term Fixed Rate Bonds.

Continue reading

Good Shepherd Village at Endwell (December 2021)

Good Shepherd Village Logo

HJ Sims Partners with Good Shepherd Village at Endwell to Refinance Bank-Held Bonds and Provide Funds for Community Improvements. Good Shepherd Village at Endwell, Inc. is a fee-for-service continuing care retirement community located in Endwell, New York approximately 8 miles west of Binghamton consisting of 74 independent living cottages, 80 independent living apartments, 16 assisted living units, 16 memory care units and 32 skilled nursing beds.

Continue reading

NABL Institute

National Association of Bond Lawyers Logo

National Association of Bond Lawyers: NABL U The Institute

Thought Leadership and Educational Session:

Hot Topics in Disclosures for 501(c)(3) Borrowers

Session Date & Time: Thursday, March 3, 5:00 – 6:15pm ET

This panel will cover hot topics in disclosure for 501(c)(3) borrowers in the following sectors: health care, senior living, housing, and higher education. Disclosure considerations unique to each sector will be discussed as well as topics that apply to all such as bank loan disclosure, recent SEC risk factor guidance, cybersecurity, climate change, and LIBOR. Disclosure considerations concerning taxable 501(c)(3) bonds will also be discussed along with the particular considerations in connection with ongoing disclosure, foreign legends and tax disclosure.

Featured Speakers:

  • Melissa Messina, Senior Vice President, HJ Sims
  • Panel Chair: Bill Burns, Gilmore & Bell, P.C., Kansas City, MO

Contacts:

  • Melissa Messina, Senior Vice President
REQUEST INFORMATION ON THIS PRESENTATION

As we continue to experience fluctuations in our capital markets, HJ Sims is committed to Tracking the COVID-19 Impact.

Learn More

Sims Mortgage Funding Uses Note Modification to Refinance a Market Rate Multifamily Community

Sims Mortgage Funding, Inc.

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 [email protected].

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.