HJ Sims Arranges $8.8M in Financing for Clark Lindsay Village Repositioning in Urbana, Illinois

URBANA, Ill. — HJ Sims has arranged an $8.8 million taxable note on behalf of Clark Lindsey Village.

Established in 1978, Clark Lindsey Village is a nonprofit continuing care retirement community in Urbana. The campus currently features 147 units of independent living, 12 units of memory care and assisted living and 105 beds of skilled nursing.

The borrower plans to use the funds to undertake a repositioning project at the community over the next five years. Phase I includes the construction of eight independent living villas, in addition to site work dedicated to the next planned phase.

The financing is structured as a draw-down bank note with an interest rate of 2.15 percent over a 24-month term.