HJ Sims - Investment Banking for the Senior Living Industry, Fixed Income Financial Services
Harbor's Edge

lowest interest rate ever for a non-credit enhanced start-up ccrc for a start-up non-profit corporation

Harbor's Edge
Harbor's Edge
Herbert J. Sims raised over $100 million for Harbor’s Edge, a start-up CCRC owned by a start-up community-based non-profit corporation in Norfolk, Virginia. The financing included variable rate bonds, a construction loan, subordinate debt and fixed rate bonds. The fixed rates were 6.08% for 21 years and 6.28% for 31 years.

At the Sims Late-Winter Conference, Neil Volder, the driving force behind Harbor’s Edge, described how the project is the catalyst for redevelopment of an underdeveloped part of the City. In addition, the development generates construction jobs, full time employment, real estate taxes, permit and use taxes, bond authority fees, etc. for Norfolk.


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