HJ Sims Closes Life Insurance Company Loan for Community Living and Assisted Memory Care

FAIRFIELD, Conn., October 4, 2022 /PRNewswire/ — HJ Sims (Sims), a private investment bank and wealth management firm founded in 1935, is pleased to announce that it has recently successfully brought a new solution to a valued client seeking to refinance and repay its debt to build a recently completed 74-unit assisted living and memory care community located in the Mountain West employing a 10-year fixed interest non-recourse loan.

(PRNewsfoto/HJ Sims)

“In a turbulent market, we closely watched what appeared to be an ever-fluctuating interest rate environment.”

The well-experienced regional owner/operator currently operates over 1,400 units in 26 communities in three different states. With over 16 years of experience, the Owners Group has a proven track record of identifying opportunistic locations, developing from scratch and stabilizing occupancy in record time for relief communities. independent living and memory care.

Sims acted as strategic advisor and placement agent, managing the process from start to finish; also providing access to multiple financing options to be considered seamlessly, which has resulted in the introduction of a new form of debt to the borrower to add to their growing portfolio.

Sims proactively laid the groundwork for a fundraising plan during the development and pre-opening of the 74-unit community. Long before the property reached stabilized occupancy, Sims had already prepared several options for the next stage of the capitalization strategy, including withdrawing the full recourse construction loan. After analyzing several loan options, a life insurance company was chosen to provide the $100.5 million of loan proceeds, which was used not only to repay maturing construction debt, but also to provide a higher than expected return on equity to the developer. The non-recourse loan was structured with a fixed interest rate for a 10-year term, comprising 18 months of interest-only payments, followed by a 30-year amortization.

“In a turbulent market, we closely monitored what appeared to be an ever-fluctuating interest rate environment. The fixed interest rate was locked on the initial deposit at the start of the underwriting process and not towards the end, eliminating the uncertainty of rising interest rates and widening the comparison gap between competing lenders even further. We are delighted to be able to not only offer a financing solution, but one that is different from all others,” commented Jeffrey SandsCEO of HJ Sims.

Financed Right® Solutions—Jeffrey Sands: [email protected] or 203.418.9002 | Brady Johnson: [email protected] or 949.558.8297

ABOUT HJ SIMS: Founded in 1935, HJ Sims is a private investment bank and wealth management firm. Based at Fairfield, Connecticut, Sims has investment banking, private wealth management and business sites nationwide. Member FINRA, SIPC. Testimonials may not be representative of another customer’s experience. Past performance is not indicative of future results. Facebook, LinkedIn, Twitter, Instagram.

CONTACT: Rebecca Brady, Marketing & Brand Director | 203.418.9077 | [email protected]



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