HJ Sims Provides $7.4M Recapitalization for Skilled Nursing Portfolio in Florida

by Jeff Shaw

MAITLAND, Fla. — HJ Sims has sold $7.4 million in taxable bonds through a private client group to high-net-worth individuals to recapitalize a skilled nursing portfolio in Florida.

The borrower is Next Healthcare Group (NHG), a firm that acquires and manages skilled nursing facilities. The recapitalization will allow NHG to recapture equity interest in the portfolio and pursue additional investment opportunities.

In 2013, Sims partnered with a related company of NHG, HBS Assets, providing a subordinate loan which, together with a senior bridge loan, was used to finance the acquisition of a portfolio of two nursing homes located in Florida. Upon acquisition, the portfolio was leased to Consulate Health Care based in Maitland. NHG completed a HUD insured refinancing in 2015, repaying the outstanding senior bridge loan and a portion of the subordinate loan.

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