HJ Sims Quarter in Review

Q2 2022

Financings

HJ Sims Partners with Asbury Communities to Provide Funds for Capital Improvements During a Volatile Market

Asbury Communities, Inc., owns and operates life plan communities in Maryland, Pennsylvania, and Tennessee, as well as HUD Section 202 senior housing buildings, a foundation, and a for-profit technology consulting firm.  All of the facilities that are included in its Maryland and Pennsylvania Obligated Groups are owned and operated by Asbury Atlantic, Inc., a wholly-owned subsidiary of Asbury Communities. Read more.

HJ Sims Acts as an Advisor to Structure a Refinancing and New Capital to the BayWoods Cooperative

BayWoods is a senior housing cooperative located in Annapolis, MD. The community includes 147 independent living units with a small healthcare component comprised of 27 skilled nursing units and 20 assisted living units and is located on the Severn River with breathtaking views of Annapolis. Read more.

HJ Sims Structures and Sells a Unique Financing Solution to Position Clark-Lindsey Village for the Future

Clark-Lindsey is a not-for-profit, single-site life plan community located in Urbana, IL, the home of the University of Illinois – Fighting Illini. The organization was established in 1978 and is one of eight communities in the nation to have earned the designation as a “Center for Successful Aging.” Read more.

HJ Sims Partners with Goodwin Living to Complete a $122 Million Cinderella Bank Refinancing, Lowers MADS by Nearly $2 Million

Goodwin Living is a non-profit senior living organization located in northern Virginia that currently operates two life plan communities: Goodwin House Alexandria, located in Alexandria, Virginia, and Goodwin House Bailey’s Crossroads, located in Fairfax County. Read more.

HJ Sims successfully completes $38.4 million BBB+ rated Forward Bond Refunding and $15.5 million Bank Refinancing

Opening in 2005, Kendal on Hudson owns and operates a continuing care retirement community, located on a scenic 21-acre site in the Village of Sleepy Hollow, Westchester County, NY overlooking the Hudson River and is an affiliate of the Kendal Corporation. Read more.

HJ Sims Successfully Completes $115 Million All Bank Tax-Exempt Financing for New Satellite Campus and Refinancing

Phoebe Ministries is a not-for-profit, multi-facility organization specializing in healthcare, housing, and support services for older adults. Founded in 1903 and affiliated with the United Church of Christ, Phoebe offers a full continuum of care to serve the diverse needs of older adults. Read more.

HJ Sims Provides $5.6 Million Mezzanine Loan for Portfolio of Intermediate Care Facilities

A national recognized owner and operator of healthcare properties and services was pursuing the acquisition of a portfolio four Intermediate Care Facilities for Individuals with Intellectual Disabilities. The Sponsor owns a substantial portfolio of healthcare properties across several states with multiple operating partners. Read more.

HJ Sims Provides High Leverage Acquisition Financing for Senior Living Portfolio in Florida

An experienced senior living ownership group partnered with a regional operator to acquire two senior housing properties in Florida. The Borrower owns over 40 skilled nursing and senior housing properties across eight states. The properties provide a combination of independent living, assisted living, and memory care units.  Read more.

HJ Sims Closes on $25.515 Million Series 2022 Bonds for Public Charter School

The Gathering Place is a public charter school educating 501 students in the “Near Northwest” neighborhood in San Antonio, Texas. The school was founded to provide students in historically underserved communities a high-quality education that fosters academic performance, creativity, and healthy social and emotional development. Read more.

Sims Mortgage Funding Does the Jersey Shore, Preserves Affordable Elderly Housing

Wesley by the Bay is an affordable senior housing community located in Ocean City, NJ and sponsored by the United Methodist Homes of New Jersey. The Project, consisting of four buildings, was built in the early 1980s with a high-interest rate HUD Section 202 Direct Loan. The Sponsor looked to Sims Mortgage Funding to provide a long-term capital solution to meet the diverse needs of the Project. Read more.

Advisory

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Q2 Highlights

The HJ Sims Investment Banking Team Continues to Grow

We were thrilled to welcome three new bankers to the team in Q2.

Kaiti Wang, CFA®
Vice President, Education Finance

Prior to joining HJ Sims, Kaiti had experience in municipal analyst roles with S&P Global Ratings, where she was introduced to the education sector and found that each charter school has a unique story and faces varied challenges in fulfilling its mission to educate students. Kaiti has evaluated the credit profiles of the more than 300 S&P-rated charter schools. Following her time at S&P, she served as a Loan Officer with Local Initiatives Support Corporation (LISC), where she underwrote loans to high quality charter schools. Kaiti graduated from UC Berkeley with a Bachelor of Arts in Economics. Since then, she has earned her CFA charterholder designation and completed a Commercial Real Estate Loan Underwriting course.

Kyle Ficker
Senior Associate

Located in Richmond, Virginia, Kyle serves as a Senior Associate supporting our investment banking teams dedicated to senior living and education finance. Kyle’s background in both the senior living and education areas of finance provides him with a unique ability to appreciate the nuances of each sector. Previously working with Truist Securities (formerly BB&T Capital Markets), Kyle brings his public finance expertise to HJ Sims providing skilled analysis of the many requirements to execute tax-exempt and taxable debt financings and fulfill capital planning engagements. Kyle attended the University of North Carolina, Chapel Hill, where he earned his Bachelor of Arts in Economics,

Seth Wagner
Senior Vice President

A Virginia native, Seth is based in Richmond, Virginia, serving as Senior Vice President on our investment banking team leading financings for senior living industry clients as well as serving clients in our education finance practice. To date, Seth has served in a leadership role on over 30 financing projects totaling more than $2 billion in financings over the course of his career. Seth served more than seven years with BB&T Capital Markets (now Truist Securities) in various analyst, banking and leadership roles with increasing responsibilities and was one of the youngest recipients of BB&T’s Annual Sterling Performance Award – recognizing the performance of the organization’s top 1% of employees. Seth graduated from Hampden Sydney College in Virginia with a Bachelor of Arts in Economics and Business.

HJ Sims Co-Hosted Cocktail Reception at the 2022 National Charter Schools Conference

The HJ Sims Education Finance team co-hosted a cocktail reception at NCSC22 this past June. The event was held at the world-renowned Washington, DC restaurant, Zaytinya by José Andrés.