REFINANCING LED BY HJ SIMS LOCKS IN LONG-TERM PERMANENT FINANCING AND PROVIDES FLEXIBILITY FOR FUTURE GROWTH
REFINANCING LED BY HJ SIMS LOCKS IN LONG-TERM PERMANENT FINANCING AND PROVIDES FLEXIBILITY FOR FUTURE GROWTH
2 PagesCASE STUDY PARTNERED RIGHT ® Morningside Ministries (“Morningside”is a Texas non-profit organization founded in 1959 serving San Antonio seniors in two communities: Morningside at Menger Springs, a 34-acre community in Boerne, Texas with 161 independent living units, 40 independent living cottages, 90 assisted living units, and 40 skilled nursing beds; along with Morningside at The Meadows, a 23-acre community in San Antonio, Texas with 105 independent living units, 39 independent living cottages, 64 assisted living units, and 170 skilled nursing beds. HJ Sims was engaged by Morningside to provide a plan to refinance an existing bank loan and lock in interest rates during a near historic low rate environment. STRUCTURED RIGHT ® Morningside had existing debt that included
