Clients count on HJ Sims to provide them with creative solutions and objective advice that is in their best interest, uninfluenced by transaction goals. To learn more, please see this representative sampling of our recent engagements.
Sims Mortgage Funding financing loan for Louisiana market rate multifamily Background Sims Mortgage Funding (SMF) closed in June a $21,966,700 HUD-insured loan for the Country Club Pointe Apartment Homes, a 256-unit “Class A” market rate rental property in Lake Charles, LA. The loan is insured under the Section 223(a) (7) program, which is designed to refinance high-interest rate loans that are in HUD’s portfolio, resulting in stronger projects and lower risk to the mortgage insurance fund. Details In 2007, Sims Mortgage Funding originated a HUD-insured loan under the Section 221(d) (4) program that provided construction and permanent financing for the Project. That financing had an interest rate of 5.99% and […]more
Financing “One Particular Harbour” Background On February 11, 2014, HJ Sims closed a $36,395,000 taxable bond issue for the Hollywood Beach Community Development District I (the “District”). Proceeds from the bonds will be used to fund the acquisition and construction costs of a public parking garage. The parking facility will be part of the Margaritaville Hollywood Beach Resort, a 17-story structure which will consist of 28,000 square feet of convention and meeting space, 30,000 square feet of restaurants, and a 13,000 square foot spa and FlowRider pool. The 5-acre development site will include a total of 1,056 parking spaces comprising floors three through eight, with the hotel to be constructed […]more
Sims raises $1.72 million of preferred equity for the acquisition of a skilled nursing facility in RI Herbert J. Sims & Co, Inc., (“Sims”) through an affiliate, provided $1.72 million of preferred equity to finance the acquisition of Heatherwood Nursing & Rehabilitation Center, a skilled nursing facility in Newport, RI (the “Facility”). The Facility is owned and operated by affiliates of Athena Health Care Associates, Inc. (“Athena”) and is comprised of 114 skilled nursing beds. Background Athena, one of the largest managers of skilled nursing facilities in New England with locations in CT, MA and Ri, entered in a purchase and sale agreement to acquire Heatherwood Nursing & Rehabilitation Center, a 114-bed, […]more
Sims raises $3.4 million of subordinate debt for acquisition of two nursing homes in Central Florida HJ Sims, through an affiliate, provided $3.4 million of subordinate debt to finance the acquisition of Baya Pointe Nursing and Rehabilitation Center in Bushnell, Florida (the “Portfolio”). The Portfolio is being acquired by HBS Assets, LLC. Background HBS Assets, LLC (“HBS” or the “Borrower”), a company focused on acquiring nursing homes and leasing them to quality operators, approached Sims regarding subordinate financing (the “Loan”) for the acquisition of two nursing homes in Central Florida comprised of 150 beds (the “Portfolio”). HBS had already arranged bridge-to-HUD first mortgage financing and had investors interested in providing […]more
Sims’ strong distribution ensures successful financing of start-up rental CCRC in difficult market conditions “Thank you for all of your hard and dedicated effort in getting our deal done. I was truly impressed with your work. I am thankful that you never gave up, worked through the hard issues , and stayed steady when things got a little tough. Without the strength and support of the entire Sims team, we would not have gotten this done. You have played a critical role in making the Rivers happen!” – Richard Levin, CEO, Riverview Health Background Last month, HJ Sims closed a tax-exempt bond issue and a taxable bond issue totaling $27,320,000, […]more
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