HJ Sims Arranges $61.8M Bond Refinancing for Nonprofit Operator in the Midwest

by Jeff Shaw

EDEN PRAIRIE, Minn. — HJ Sims has arranged $61.8 million in bond financing for American Baptist Homes of the Midwest (ABHM), a nonprofit operator based in Eden Prairie.

ABHM owns and operates a portfolio of 13 independent living, assisted living and skilled nursing communities spread across six states, all located in the Midwest.

Sims has completed six separate financing transactions for ABHM since 2011. The current bonds will refund previous bond issues from 2007 and 2009. The financing also increases cash on hand, is tax exempt, lowers debt service requirements and features a fixed rate.

You may also like