sims raises $9.5 million of equity for benchmark assisted living acquisition

Herbert J. Sims & Co., Inc. (“Sims”), through its affiliate HJ Sims Investments, LLC, provided joint venture equity to an affiliate of Benchmark Assisted Living, LLC (“Benchmark”) to acquire Heritage at Danvers (the “Project”), an 80-unit assisted living and dementia care community. Benchmark Assisted Living is the largest owner/operator of service-enhanced senior housing in New England. Including the Heritage at Danvers acquisition, Benchmark will operate forty-four (44) senior living communities in New England, with Sims as a strategic capital partner in all of its communities.

Creditworthiness, credit ratings and stock prices in the financial services sector are under extraordinary pressure in the last year, and more change is likely on the way. A survey of 27 leading financial institutions, including banks, investment banks and bond insurance companies reveals some stunning developments.

sims closes $221,645,000 all variable rate financing for pacific retirement services

On August 26, Sims closed a $221,645,000 all variable rate demand bond financing for the construction and operation of Mirabella Portland, a 30-story, non-profit continuing care retirement community owned and developed by Pacific Retirement Services, Inc. (PRS) in Portland, Oregon. When complete, the community, now under construction, will include 224 independent living apartments, 16 residential care suites, 21 memory support apartments and 20 skilled nursing beds, together with several dining venues and a variety of amenities consistent with an upscale community.