SIMS ASSISTS MULTI-FACILITY SENIOR LIVING PROVIDER FINANCING CAMPUS EXPANSION AND RENOVATION
SIMS ASSISTS MULTI-FACILITY SENIOR LIVING PROVIDER FINANCING CAMPUS EXPANSION AND RENOVATION
3 PagesCASE STUDY PARTNERED RIGHT ® In early 2018, as a precursor to its campus expansion project, United Methodist Homes (“UMH”) approached HJ Sims regarding three series of outstanding debt issued in 2013 as a Direct Placement with Citizens Bank (the “Series 2013 Debt”). This was prompted by the recent passage of the Tax Cuts & Jobs Act of 2017, and a reduction in the Corporate Tax Rate, which triggered an increase in the interest rate on the Series 2013 Debt. Sims successfully assisted UMH in the evaluation of options to address the interest rate increase, culminating in successful completion of a debt modification with Citizens Bank on an expedited basis in mid-May 2018. With this completed, UMH and HJ Sims, along with Citizens, turned to advancing preparations for UMH’s ant
