New Jersey Economic Development Authority
Revenue Refunding Bonds
(Crane’s Mill Project)
HJ Sims is pleased to serve as underwriter for the upcoming issue of revenue refunding bonds for Crane’s Mill, a Life Plan Community that opened in 1998 on a 48-acre site in West Caldwell, NJ (approximately 20 miles west of New York City). The community is comprised of 276 Independent Living Units (246 apartments and 30 cottages); 48 Assisted Living Units and 18 Memory Support Assisted Living Units; and 56 Skilled Nursing Beds. Lutheran Social Ministries of New Jersey (LSMNJ) is the sole corporate member of Crane’s Mill and traces its roots to 1904. LSMNJ owns and/or manages 19 facilities throughout New Jersey, including seven senior housing projects and two nursing homes for a total of 710 independent living units and 254 nursing beds. In addition, LSMNJ owns and/or manages six affordable and special needs facilities throughout New Jersey. LSMNJ provides management services to Crane’s Mill under a management contract.
About the Bonds
Use of Proceeds
Audited Historical Financials (For Year Ending 12/31/2017):
Forecast Financials (For Year Ending 12/31/2022):
We are currently accepting indications of interest for these Revenue Refunding bonds with an expected pricing week of December 10, 2018, and anticipated settlement week of December 17, 2018. For more information including risks, please read the Preliminary Official Statement in its entirety. If you have interest in purchasing these Series 2018A and/or Series 2018B bonds from this new issue, please contact your HJ Sims financial advisor as soon as possible or call 888.978.1724.
*Subject to changeNo 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 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, 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 Crane’s Mill.