New Financing—The Homestead at Anoka

Real Income. Exclusive Opportunity. 

**New issue is all sold. Please check with your advisor for secondary opportunities**

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HJ Sims is pleased to sole manage an upcoming negotiated new issue for The Homestead at Anoka, Inc. Project. The Series 2017 are Tax-Exempt Fixed Rate Term Bonds.

  • Interest Payments: First coupon on May 1, 2017, and payable every May 1 and November 1 thereafter
  • Availability: Bonds maturing 2017 through 2022 and 2027, 2037 and 2047*

$39,730,000*
City of Anoka, Minnesota
Housing Revenue Refunding Bonds
(The Homestead at Anoka, Inc. Project)
Series 2017

About The Homestead at Anoka
The Borrower, The Homestead at Anoka, Inc., is a Minnesota nonprofit corporation organized in 2010 for the development, construction and operation of a senior living campus located in Anoka, MN. The sole member of the Borrower is VOA Care Centers, Minnesota, a subordinate affiliate of VOA National Services. The Homestead at Anoka is affiliated with the Volunteers of America organization.

  • The Community is open; the occupancy rates as of November 30, 2016 were 86.1% for independent living, 91.3% for assisted living, 95.0% for skilled nursing and 33.8% for memory care
  • The current campus, which began operations in 2012, consists of: 120 skilled nursing beds, 59 assisted living units, 24 memory care units, 65 units of independent living and an approximately 8,800 square foot town center
  • The Series 2011 Bonds financed the Phase I Project of the Company’s Health Care and Senior Housing facility, consisting at that time of 59 assisted and independent living units and 120 skilled nursing beds
  • The Series 2014 Bonds financed the Phase II Project of the facility which added 65 independent living units and 24 memory care units, and transitioned the 59 Phase I units to all assisted living units
  • Volunteers of America (“VOA”) is an interdenominational church and Christian human services organization which has operated a variety of social service programs throughout the United States since 1896
    • VOA, through its subsidiaries and affiliates, serves 2 million people annually.
    • VOA has 16,000 paid employees and more than 55,000 volunteers
    • VOA was founded in 1896 by social reformers Ballington and Maud Booth
    • VOA helps more than 2 million people in over 400 communities in 46 states, the District of Columbia and Puerto Rico, both directly and through VOA state affiliates
    • Services include: Children, youth and families; correctional re-entry services; community enhancement; emergency support; homelessness; housing; intellectual disabilities; long-term care; mental health; seniors; substance abuse; veterans

About the Bonds

  • Use of Proceeds: The Series 2017 Bonds will advance refund only the Series 2011 Bonds.
  • Denominations: $5,000, no investor restrictions
  • Security for the 2017 Bonds
    • First Mortgage Lien
    • Gross Revenue Pledge
    • All Trustee Held “Indentured” Funds
    • Debt Service Reserve Fund (equal to Maximum Annual Debt Service)
    • Repair and Replacement Fund

For more information including risks, please read the Preliminary Official Statement in its entirety. We anticipate a formal pricing of the issue the week of January 30. If you have interest in purchasing bonds in this new issue, please contact your HJ Sims Financial Advisor or call 888.978.1754.

 


No dealer, broker, salesperson, or other person has been authorized to give any information or to make any representation other than those contained in the Preliminary Limited Offering Memorandum or the Preliminary Official Statement, and, if given or made, such other information or representation should not be relied upon as having been authorized by the Issuer, the Borrower, or the Underwriters. The information set forth herein has been obtained from the Issuer, Borrower, and other sources that are believed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not construed as a representation of, the Underwriters. The information contained herein is subject to change without notice. Under no circumstances shall this constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering or solicitation will be made only to investors pursuant to the Preliminary Official Statement or the Preliminary Limited Offering Memorandum, which should be read in its entirety. Investments involve risk including the possible loss of principal. HJ Sims is a member of FINRA and SIPC and is not affiliated with the Homestead at Anoka or Volunteers of America.

*Subject to change

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