November 28, 2017 Comments Off on $240M Bond Issue for Boston Life Plan Community Views: 484 Connecticut, Massachusetts, National News, Northeast

$240M Bond Issue for Boston Life Plan Community

Fairfield, CT-based HJ Sims is underwriting the upcoming issue of refunding bonds for Massachusetts Development Finance Agency’s NewBridge on the Charles project. The $239.9 million financing marks the largest fixed rate public bond issue for a single site Life Plan Community (LPC).

NewBridge on the Charles is an LPC located in Dedham, MA, roughly 10 miles southwest of Boston and managed by Hebrew SeniorLife. The facility opened in 2009, and provides a full continuum of care for its residents through 256 independent living apartments, villas and cottages, 91 assisted living suites offering traditional care and memory support, and a health-care center with 268 skilled and chronic care beds.

Proceeds from the bonds will refund NewBridge’s outstanding debt and pay issuance costs. HJ Sims serves as underwriter, along with Bank of America Merrill Lynch. The financing is expected to close by the end of the year.

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