HJ Sims Arranges $51.5M Bond Financing for New Development in Florida

DELRAY BEACH, Fla. — HJ Sims has arranged $51.5 million in bond financing for the construction of Tuscan Gardens of Delray Beach, an assisted living and memory care community in Delray Beach.

Tuscan Gardens Group, a developer and owner of senior living communities, is developing the community. The project marks the third Tuscan Gardens-branded community and the company’s sixth community overall. 

The community will feature 88 assisted living units and 50 memory care units. Construction began in summer 2018.

HJ Sims arranged total of $51.5 million in tax-exempt and taxable bonds, including $11.6 million in subordinate tax-exempt bonds. The bonds were sold to institutional investors and to Sims’ accredited investors.