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 obtains low fixed interest rates for Volunteers of America’s $34,940,000 bond issue Background Volunteers of America (“VOA”), a 115 year old social services organization with extensive multi-state senior living operations, had obtained special legislation from the State of Minnesota to replace an aging skilled nursing facility it owned in Anoka, Minnesota. Further, the State granted […]more
Sims provides advisory services for two communities in Seattle, WA and Portland, OR In 2006 and 2008 Pacific Retirement Services developed two upscale high rise CCRCs under its Mirabella brand using letter of credit backed variable rate bonds. The first community was Mirabella Seattle, a 12-story building with 289 apartments and 76 health care units […]more
Sims Mortgage Funding refinances existing multifamily rental properties in Louisiana, creating significant annual debt service savings In late July, Sims Mortgage Funding, Inc. (SMF) closed $25,113,300 in HUD-insured loans for two Louisiana market-rate multifamily properties: Audubon Lake Apartment Homes in Lafayette and Champion Lake Apartment Homes in Shreveport. The loans are insured under the Section […]more
Sims refinances California hospital at 4.78% Sims Mortgage Funding (“SMF”) made history on 4/26/11 when it closed the first FHA-insured hospital refinancing. The borrower was Parkview Community Hospital, a 193-bed not-for-profit facility located in Riverside, CA. Proceeds from the $29,098,700 loan, insured under the new Section 242/223(f) program, and a cash contribution by Parkview were […]more
For Diakon Lutheran Social Ministries, Sims Mortgage Funding, Inc. closes Section 202/223(f) refinance transaction Sims Mortgage Funding recently closed a $6,754,800 loan for the Lutherwood Apartments, a 125-unit, Section 8-subsidized senior housing project in Scranton, PA. The loan was insured under FHA’s Section 202/223(f) program and features a 35-year amortization. The Sponsor was Diakon Lutheran […]more