HJ Sims Arranges $240M Bond Refinancing for CCRC Near Boston

by Jeff Shaw

DEDHAM, Mass. — HJ Sims has arranged $240 million in fixed-rate bond financing for NewBridge on the Charles, a continuing care retirement community in the Boston suburb of Dedham.

HJ Sims served as underwriter along with Bank of America Merrill Lynch on the financing. The bonds will be used to refund the community’s outstanding debt and pay issuance costs.

Hebrew SeniorLife (HSL), a nonprofit operator, opened the community in 2009. The property features 256 independent living units, 91 assisted living suites that can also offer memory care services, and a healthcare center with 268 skilled nursing beds.

Sims has worked with NewBridge on the Charles since the initial financing in 2007, and its relationship with HSL dates back to 1992.

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