SIMS SUCCESSFULLY COMPLETES $19.5 MILLION DEBT REFINANCING, GENERATING INTEREST RATE AND CASH FLOW SAVINGS & EXTENDED BANK CREDIT COMMITMENT
SIMS SUCCESSFULLY COMPLETES $19.5 MILLION DEBT REFINANCING, GENERATING INTEREST RATE AND CASH FLOW SAVINGS & EXTENDED BANK CREDIT COMMITMENT
2 PagesCASE STUDY PARTNERED RIGHT Frederick Mennonite Community, d/b/a “Frederick Living”, is a Type C life plan retirement community located on a 67-acre campus in Upper Frederick Township, Montgomery County, Pennsylvania. Frederick Living operates 166 Independent Living Units, 111 Personal Care beds, and 61 Skilled Nursing Beds. HJ Sims was engaged by Frederick Living in September 2017 to explore options for refinancing all or a portion of its existing debt (with approximately $15.5 million total outstanding) along with funding new capital for a future expansion project along with routine capital expenditures (up to $5 million. STRUCTURED RIGHT Frederick Living’s existing $15.5 million debt portfolio consisted of six separate series of bank debt provided by Univest and Fulton B
