HJ Sims headed back to familiar territory, arranging a refinance for a client it has been working with since 1988. On behalf of The Mary Wade Home, a skilled nursing/assisted living facility that also offers adult day care, physical rehab and transportation services in New Haven, Connecticut, the firm secured $45.8 million in both taxable and tax-exempt bonds.
A portion of the financing will fund the construction of a new assisted living/memory care building on parcels of land that have been acquired over several years. The taxable financing supported those land acquisitions. Sims obtained approval from the CT Health and Educational Facilities Authority to issue the bonds, which came with an interest rate of 3.83% for the longest bond maturity of 2054.
