Genesis HealthCare Buys and Divests

As it continues to improve its capital structure and rationalize its lease exposure, Genesis HealthCare has joint ventured with Next Healthcare Capital to buy 15 skilled nursing facilities with 2,147 total beds previously leased from Welltower located in Pennsylvania (6), New Jersey (4), Connecticut (3), West Virginia and Massachusetts. Genesis will own a 46% stake […]

Pennsylvania Provider Finances for the Future

HJ Sims met Phoebe Ministries’ capital needs with a taxable financing provided by Citizens Bank. A not-for-profit senior care provider with locations in seven Pennsylvania counties, Phoebe Ministries recently purchased a 38-acre property in Emmaus (near Allentown) to convert the existing office building there into seniors housing. That came to a cost of $12 million. […]

HJ Sims Closes Comprehensive Refinance of Maryland CCRCs

HJ Sims was engaged by Asbury Atlantic, Inc. to refinance two of its CCRCs in Maryland with a combination of taxable and tax-exempt financing. Located in Gaithersburg and Solomons, the two communities were already saddled with higher-rate, tax-exempt bonds and other non-callable bonds with a balloon maturity. Sims successfully extended a taxable bank loan that […]

Another Civitas Development in the Lone Star State

Civitas Senior Living may have already expanded outside its home state of Texas, with three existing communities and four more on the way in Florida, Kentucky, Colorado and Arizona, but the Fort Worth-based company is coming home for its latest development. The 188-unit community, located in the Red Oak suburb of Dallas, will feature independent […]

HJ Sims Generates Significant Savings Through Bond Issue

American Baptist Homes of the Midwest successfully refunded its outstanding bonds with the help of HJ Sims, generating millions in savings in the process. Recently, across ABHM’s 13-property portfolio, the provider has funded repositioning projects at many locations, significantly lowering their cash reserves. So, HJ Sims worked to refund ABHM’s Series 2007 and Series 2009 […]

HJ Sims Underwrites Large Bond Issue For Massachusetts CCRC

In the largest fixed-rate public bond issue for a single-site CCRC, HJ Sims served as underwriter with Bank of America Merrill Lynch on a $239.97 million financing on behalf of Hebrew SeniorLife. Located about 10 miles southwest of Boston in Dedham, Massachusetts, the CCRC was founded in 2009 and features 256 independent living units (including […]

Another Financing For Next Healthcare Group

HJ Sims showed its range of services in recapitalizing two skilled nursing facilities in Florida on behalf of a private healthcare real estate investment firm, Next Healthcare Group (NHG). Sims’ involvement with the facilities goes back to 2013, when it provided a $3.4 million HUD Plus™ subordinate loan to a related company of NHG, HBS […]