HJ Sims Underwrites $40.6M Refinancing for Nonprofit Community Near Minneapolis

ANOKA, Minn. — HJ Sims has underwritten $40.6 million in bonds to refinance debt on The Homestead at Anoka, a nonprofit seniors housing community in the Minneapolis suburb of Anoka.

The new financing will refund the 2011 bonds that were used to fund construction of Phase I of the community. The refinancing represents a 5 percent savings over the previous bond issue, a total of more than $1.7 million.

Volunteers of America National Services, a Minnesota-based nonprofit corporation, owns The Homestead at Anoka.

HJ Sims is a Connecticut-based investment bank.