HJ Sims Arranges $60.5M Bond Financing for Westminster Village CCRC in West Lafayette, Indiana

by Jeff Shaw

WEST LAFAYETTE, Ind. — HJ Sims has arranged $60.5 million in bond financing for Westminster Village, a continuing care retirement community (CCRC) in West Lafayette, approximately midway between Chicago and Indianapolis.

Founded in 1976, the community features 346 beds targeting middle-class seniors. The ownership partners with Purdue University.

Westminster Village sought to take advantage of low interest rates to refinancing its outstanding 2014 bond issue.

Sims found a banking partner with terms that would offer flexibility and savings for the borrower. The financing generated enough savings to for the community to reconsider a renovation project. The $15 million project repurposed some of the community’s existing independent living units into assisted living and memory care units that were in high demand on campus.

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