Reposition and refinance

HJ Sims recently helped Cross Keys Village, the ninth-largest single-site not-for-profit CCRC in the country, obtain two bank loans, totaling $42.5 million, in order to both refinance a bridge line of credit and fund an expansion of its campus. Founded in 1908, the CCRC currently features 444 independent living units (in apartments, cottages and country homes), 91 assisted living units and 270 skilled nursing beds. The sponsor, the Southern District of the Pennsylvania Church of the Bretheren, together with architectural firm SFCS, Greenbrier Development and Sims, decided on a campus expansion project, which would include expanding its health center facilities (particularly its skilled... Read More »