Sims Mortgage Funding, a subsidiary of the HJ Sims investment bank and wealth management firm, recently closed a $14.1 million refinance loan for Liliha Healthcare Center in Honolulu, HI.
The refi slashed the 92-bed skilled nursing facility’s interest rate by 60%.
Liliha, and its sister facility, Nuuanu Hale, were collateralized with a single, high-interest rate, bridge loan that featured a short maturity and expensive extension provisions. In the refi, Liliha pursued a fixed-rate, long-term HUD-insured loan. To complete the refinancing capital stack, the facilities’ holding company borrowed additional financing through Sims.