Last updated: May 11, 2021

As we continue to experience daily fluctuations in our capital markets, HJ Sims is committed to keeping our employees, our clients and our business partners informed. We are diligently tracking the key indices and data that drive our sectors’ interest rates and access to capital. We have developed a set of straightforward charts that capture these trends and are updating them regularly, at times, daily.

We will update this page adding information as frequently as needed.

In early 2018, we issued an HJ Sims perspective on the changes to the tax code enacted as part of the Tax Cuts and Jobs Act. While it provided guidance on how the Act would impact financings in the “then” future, we revisit those financing strategies in a post-tax reform world.

HJ Sims has assisted clients in facilitating advantageous financing results, despite the elimination of advance refundings and increased corporate tax rates for their lending partners. 

A Survey of Independent Living Desirability & Safety

HJ Sims participated in the Senior Living COVID-19 Sentiment Report, which surveyed over 4,000 current and prospective senior living community residents to assess their thoughts and feelings at the beginning of and during the COVID-19 pandemic. The old saying of “You don’t know what you’re missing until you try it” is something that rang true in the results.

The full report is available for download. The Survey, published by Plante Moran Living Forward and Retirement DYNAMICS^®, was distributed to 23,000+ residents and staff at senior independent living communities nation-wide, along with prospective residents.

The U.S. Department of Health and Human Services, through the Health Resources and Services Administration, announced on September 1, 2020, assisted living facilities (ALFs) may now apply for funding under the Provider Relief Fund Phase 2 General Distribution allocation. The funding is made possible through the bipartisan CARES Act and the Paycheck Protection Program and Health Care Enhancement Act.

To combat risks during the current pandemic and better protect their residents, many ALFs have implemented CDC recommendations resulting in increased health care related costs to their facilities. ALFs may apply for funding to help minimize the financial impact of these increased expenses caused by COVID-19.

Helpful information for providers can be found at the Provider Relief Fund website, which includes previously recorded Phase 2 application webinars, frequently asked questions and other information on how to apply. Providers applying for the current Phase 2 General Distribution funding will have until September 13, 2020 to begin their application by entering their Tax Identification Number for validation.

HJ Sims helps you understand the Main Street Lending Program (MSLP) Program Updates, which now includes the addition of eligibility of Not-for-Profit Organizations.

HJ Sims helps you understand the Main Street Lending Program, CARES Act and EIDL Program Updates, and provides additional considerations in this overview and summary.

In a recent podcast with The Bond Buyer, William Sims, Managing Principal, and Jim Bodine, Executive Vice President, of HJ Sims, offered some perspective and proportion around the impact of COVID-19 on the senior living industry and associated investments. Chip Barnett hosts. April 2020. Listen to the Podcast.

We are honored to share the messages of hope, and gratitude, and the stories of our colleagues, partners and clients.

HJ Sims summarizes the SEC’s public statement, “The Importance of Disclosure – For Investors, Markets and Our Fight Against COVID-19,” and provides guidance with respect to making appropriate disclosures.

Did you sell everything and move to cash the week of February 18, 2020? Or, did you buy back into the market on March 23, 2020? Perhaps, you went all-in on the stock market in Q1 of 2009? 

As the world collectively endures a pandemic unseen since perhaps 1918, it is natural to be concerned about our most vulnerable population: senior citizens. And, while seniors are at risk, along with the communities they call home, more light should be shone on the stringent safeguards that have been put into place to protect them. ASHA and LeadingAge, two organizations that work to support owners and operators of senior living communities, are actively soliciting positive feedback from residents and staff in order to share the side of the story that has mostly been in the media shade.

CALL TO ACTION: We are actively collecting positive stories to share. We encourage you to share your stories, along with the name of your community, contact information and anecdote.

An Overview of the Paycheck Protection Program and Economic Injury Disaster Loan Program
Following the announcement of unprecedented assistance packages, designed to help individuals and businesses weather the COVID-19 storm, many are now asking the same questions: Are we entitled to recovery? And, if so, how do we apply for assistance? Our summary provides an overview of the loan programs available, as well as guidance with respect to steps that businesses should take in the immediate future with a view towards receiving relief under such programs.

The Coronavirus Aid, Relief and Economic Security (CARES) Act was designed to deliver financial relief and respond to some of these concerns. Beyond stimulus checks, it also includes some new rules on tax-protected retirement accounts. Following are highlights of these changes; you can also contact your financial professional to discuss how these rules may impact your personal financial situation.

We are pleased to share a report from Fitch Ratings. The report is a compilation of discussions items and questions from participants of a recent webinar. The webinar addressed the potential impact of COVID-19 on two key aspects of the US healthcare system: acute hospitals and health systems, and Life Plan Communities.

Introduction
The financial markets have been tumultuous and volatile over the past few weeks. At HJ Sims, we have been utilizing our scenario and stress testing tools to evaluate portfolios and help position our investors. In this paper, we will summarize the market environment and test four hypothetical portfolios against three scenarios: the COVID-19 Pandemic, a Global Recession and a Negative Interest Rate Environment.