Sims Mortgage Funding Closes Two Senior Housing FHA-Insured Loans to Build New and Recapitalize Old Communities

The Terraces at Seacrest Village will be a new assisted living facility to be constructed in Egg Harbor Township in Ocean County, NJ, a major local retirement destination. The Terraces will contain 70 market-rate and 10 Medicaid waiver beds. The $11,655,000 loan was insured under Section 232 and was underwritten under the Multifamily Accelerated Processing (MAP) Program.

Sims Provides Capital for CCRC Acquisition by Benchmark Senior Living

Herbert J. Sims & Co., Inc. ("Sims"), through its affiliate HJ Sims Investments, LLC, provided financing to an affiliate of Benchmark Senior Living LLC ("Benchmark") to acquire Edgehill Continuing Care Retirement Community ("Edgehill" or the "Community"). Benchmark, the largest owner-operator of service-enhanced senior housing in New England, operates 45 senior living communities.

Sims Closes $35.8 Million Financing for Repositioning Coburg Village (The Lutheran Care Network) and Expanding its Rental Independent Units

Coburg Village consists of 210 unit rental retirement housing community located on a 26 acre site in Rexford, Saratoga County, New York. Coburg Village will expand by adding 78 independent living units primarily on an adjacent 8.3 acre site. The new 78 units will be connected to the Coburg Village community center. Plans also include reconfiguration of the entrance road and front entrance and renovation and expansion of common areas to accommodate the new residents.