Since 2014, Sims has served as investment banker actively involved in Broadview’s development and structuring of necessary financing. In 2018, Sims raised $15 million in Bond Anticipation Notes (BANs) for the initial development costs which supplemented a $5 million grant received by the Purchase College Foundation Housing Corporation. The BANs issue, plus accrued interest, was fully repaid with the proceeds of this financing.

On November 10, 2021 Sims closed on the $398.1 million tax-exempt and taxable bond issue. In addition to $179 million in Entrance Fee Principal Redemption BondsSM, the bond issue included several long-term bonds, including one with a final maturity of 2056 and a yield of 4.625%. Underscoring investor appetite, bonds were placed with 32 institutional bond funds and individual clients in Sims’ Private Wealth Group. Despite no first mortgage security for bondholders, Sims leveraged its experience with other leasehold mortgage projects and incorporated several layers of protection for bondholders.

“I thank the Sims team for their guidance and wisdom over the past several years that has culminated in a highly successful bond issuance for the construction of Broadview, Senior Living at Purchase College. An important partner throughout the development of this project, we are grateful for their professionalism in structuring and securing our funding,” said Elizabeth Robertson, Chair – Board of Directors, Purchase Senior Learning Community, Inc. “We look forward to working with Sims through our next phases of development.”

Financed Right®: Andrew Nesi: 203.418.9057| [email protected]

ABOUT HJ SIMS: Founded in 1935, HJ Sims is a privately held investment bank and wealth management firm. Headquartered in Fairfield, CT, Sims has nationwide investment banking, private wealth management and trading locations. Member FINRA, SIPC. Testimonials may not be representative of another client’s experience. Past performance is no guarantee of future results.  Facebook, LinkedIn, TwitterInstagram.

CONTACT: Shauna Reilly, Chief Marketing Office | 203-418-9043 | [email protected] 

SOURCE HJ Sims

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