Sims is pleased to report that our client, Lenbrook, an Atlanta-based Continuing Care Retirement Community, received the 2009 Gold Award for the Best CCRC Common Area. This award was featured in the 2009 Best of 50+ Housing Awards sponsored by the National Association of Home Builders (NAHB).The Best of 50+ Housing Awards program recognizes excellence in building, design, and marketing of senior housing. The project team involved in Lenbrook’s common area design included Interior Design Associates, Inc., Spectrum Marketing, Inc. as the developer, and THW Design as architect.

In late 2005, Sims was engaged to underwrite Lenbrook’s expansion, consisting of a 24-story tower with 130 luxury apartments, a 60 bed health center, and an array of new common spaces. Additionally, Lenbrook also refinanced $20.1 million of prior debt. The entire expansion/refinancing bond issue totaled $172.75 million.

Read more about this unique distinction...

FHA recently announced that it will be making two major changes to its Section 232 mortgage insurance program that will significantly improve application processing and loan closing times and lead to considerably more user-friendly policies and loan administration practices.

Herbert J. Sims & Co., Inc. is pleased to announce the hiring of Richard Larkin as a Senior Vice President, to be its new Director of Credit Analysis. Dick’s first assignment is helping the House Subcommittee on Capital Markets review the current crisis of Bond Insurance in the $2 trillion taxexempt bond market, with his testimony at today’s hearing in Washington.

Jeff Molinari, an experienced trading, underwriting and institutional sales executive, has joined Herbert J. Sims & Co. as Executive Vice President from First Albany Capital to lead its institutional sales efforts.

Sims Relocates New Jersey Office to Metro Center One, 100 Wood Avenue South, Iselin. The new location provides a more convenient and central location for our customers to do business. In addition to the Iselin office, Sims offers locations nationwide.

Sims provides equity to Oasis Lifestyles to replace, expand and relocate a 102 bed assisted living community with a new 153 bed, 96,000 square foot assisted living community. The equity provided will satisfy the loan-to-value requirements for a construction loan.

The financing of the expansion project will enable Horizon House to increase the number of people it serves and maintain a variety of housing accommodations, while continuing its long-standing tradition of the highest quality of care for individuals age 60 and older.

The Refinancing of both tax-exempt and taxable debt gives the American Association of Homes and Services for the Aging enhanced cash flow and more flexible covenants to support future financing needs.

William B. Sims, CEO of Herbert J. Sims & Co., Co-Honoree at Aging In America’s Gala Benefit in NYC; Banker Cited for His Contribution to Senior Housing Industry.