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- ST. LOUIS — HJ Sims has arranged $92.4 million in bond financing for Lutheran Senior Services (LSS), a St. Louis-based nonprofit owner-operator of 17 continuing care retirement communities throughout Missouri and Illinois.
The funds will be used for improvements at several LSS communities, but the largest project is an independent living expansion at Mason Pointe in the St. Louis suburb of Town and Country.
The financing also refinances existing bonds at a lower interest rate and using smaller portion of entrance fee funds. Aaron Rulnick and Melissa Messina led the HJ Sims team.
“While the short-term goal was to fund the construction of expansion, the longer-term goal was to provide additional future capital that would allow us to refinance bonds not yet callable that have higher interest rates than the current market,” says Paul Ogier, CFO of LSS.