HJ SIMS LEADS HYBRID BANK AND FIXED-RATE FINANCING FOR EXPANSION OF AFFORDABLE AND MODERATE INCOME SENIOR LIVING COMMUNITY
HJ SIMS LEADS HYBRID BANK AND FIXED-RATE FINANCING FOR EXPANSION OF AFFORDABLE AND MODERATE INCOME SENIOR LIVING COMMUNITY
2 PagesCASE STUDY PARTNERED RIGHT ® Friends House Retirement Community (“Friends House”) is a Maryland nonstock corporation that has been in operation since 1962 and is recognized by the Internal Revenue Service as a 501(c)(3) organization. Friends House provides housing and such other related services as a full-service retirement community, including long-term healthcare services, at its approximately 62 acre campus in Sandy Spring, Montgomery County, Maryland. Friends House currently provides 32 independent living units and 75 low-income rental apartments, 82 comprehensive care beds and 21 assisted-living units. Friends House is undertaking the expansion project while also undertaking a joint venture process with Homes For America (“HFA”) for HFA to provide a new 80-unit low
