Founded in 1935, HJ Sims is a leading national underwriter of tax-exempt bonds for senior housing and long-term care providers. Sims underwrote the first tax-exempt long-term care bond issue in the United States in 1965 and has since provided more than $15 billion in bond and bank financings to senior living providers.
We wrote last month about the general health of the CCRC market and the numerous expansion projects either breaking ground or opening even during a pandemic. Another CCRC is expanding its services thanks to a large bond financing closed by the team at HJ Sims. Jefferson’s Ferry in Brookhaven,... Read more
HJ Sims secured long-term, fixed-rate bond financing for a CCRC in Pompano Beach, Florida (Fort Lauderdale MSA). Set on 70 acres, not-for-profit John Knox Village has been serving the local community for more than 50 years. It features nearly 1,000 units of mostly independent living, with a 64-unit assisted living community... Read more
HJ Sims closed a small loan for a seniors housing community in Kansas City, Missouri, and provided ownership with about $61,000 in annual debt service savings as a result. The 81-unit community caters to low-income seniors and was in need of some repairs. Also, real estate taxes had... Read more
We mentioned last week that the lending market for not-for-profit CCRCs has been quite active, particularly to fund expansion projects, and another one was announced by HJ Sims. Sims raised $38.18 million for Presbyterian Villages of Michigan (PVM), a Michigan-based not-for-profit that has been operating since 1945. Sims’ relationship with PVM began... Read more
Sinai Residences of Boca Raton, a 366-bed/unit CCRC in southeast Florida managed by Life Care Services, obtained a large bond financing to fund an independent living expansion that will grow its IL offering by nearly 50%. Just four years ago, the community opened with 234 independent living units,... Read more
William Sims is nationally known for his expertise in the senior living industry, where he has overseen the financing of hundreds of projects since he joined the firm in 1973. His expertise also includes mergers and acquisitions as well as the restructuring and refinancing of distressed properties. Mr. Sims has been a guest speaker at dozens of investment seminars and is the author of numerous articles.
Over the past 40 years he has lived through the ups and downs of various segments of the industry and has valuable insight into the planning for future success of senior living providers. He is the Immediate Past Chairperson of the Board of Directors of a non-profit senior living organization. Mr. Sims was honored by Aging in America Inc. in 2005 and by The Miriam Osborn Memorial Home Association in 2008 for his contributions to senior living.
Prior to joining HJ Sims, Mr. Sims worked in the bond department of Merrill Lynch where he served as a liaison between the branch offices nationwide and the underwriting and trading departments in New York City.
Mr. Sims graduated from the Hotchkiss School and received his Bachelor of Arts degree from Yale University. He attended the Stanford University Graduate School of Business and earned his Masters of Business Administration degree from New York University.
Mr. Sands has extensive experience in the hospital and senior living industry. He has been involved in the development, acquisition, and financing of over 250 hospitals, nursing homes, continuing care retirement communities (“CCRCs”), and assisted living facilities.
Prior to joining HJ Sims, Mr. Sands was the Managing Partner of the Hartford office of Wiggin & Dana, a large Connecticut-based law firm. He also served as Chairman of the firm’s Long-Term Care Practice Group and specialized in corporate, financial, and regulatory issues involving both proprietary and non-profit health care providers. He has also served on the Legal Committee of the American Association of Homes and Services for the Aging. While in private practice, he was regularly listed in Best Lawyers in the United States as a health care expert.
Since joining HJ Sims in 1995, Mr. Sands has been the senior banker for debt and equity financing totaling over $1 billion for proprietary and non-profit senior housing providers, including the structuring of over $200 million in equity and mezzanine placements. He has worked with both proprietary and non-profit clients on a variety of financings. He supervised the successful development of the MatchCapSM Program which raises equity money to fund pre-finance costs of start-up CCRCs. He has served as the senior investment banker for senior living financings that utilized equity, taxable bonds, and tax-exempt bonds. Mr. Sands also serves as the managing partner for a number of Sims’ equity partnerships overseeing over $100 million of investor funds. Mr. Sands graduated from Trinity College and received his law degree with high honors from the University of Connecticut School of Law.
Mark Landreville has more than 30 years of investment and commercial banking experience, concentrating almost exclusively in the senior living field. His clients range in size from large multi-state organizations to single site facilities. Having completed more than $1 billion of projects in his career, he has financed CCRC’s, independent living projects, nursing homes, assisted living facilities and memory care facilities using both the rental and entry fee model. Mark has also completed a number of repositioning, restructuring, and work-out financings. The types of financings successfully completed includes rated and non-rated tax-exempt bonds, credit enhanced bonds, private placements and bank financings.Mark is a past president of the Minnesota Institute of Public Finance and has served on not for profit healthcare and education boards. Currently, he serves on the board and finance committee of Wingspan Life Resources, a Minnesota based not for profit provider of group homes for disabled adults. He is a regular speaker at senior living forums both regionally and nationally. Mark joined HJ Sims in 2011. Prior to that, he was a Managing Director in the Senior Living Group at Piper Jaffray & Co. a regional investment banking firm headquartered in Minnesota. He is a 1979 graduate of St. John’s University with a Bachelor of Science degree in Business Administration.
In his career at HJ Sims, Curtis King has completed more than 25 senior living and long-term care financings totaling over $200 million in equity and subordinate debt. His experience includes investments in entry fee continuing care retirement communities, rental independent and assisted living communities and skilled nursing facilities. He also provides structuring, analysis and valuation for Sims’ priority originations including acquisitions, recapitalizations, expansion and new development.
Curtis joined HJ Sims in 2007. He received a Bachelor of Science degree, magna cum laude, with concentrations in Finance and Economics from Boston College. Curtis is a CFA Charterholder and is currently a member of the CFA Institute and the Stamford CFA Society.
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