HJ Sims Provides $52.1M Financing for Seniors Housing Redevelopment in Massachusetts

by David Cohen

LEXINGTON, MASS. — HJ Sims has closed $52.1 million in financing for new construction and a health center repositioning at Brookhaven at Lexington in Lexington, Massachusetts. The 32-acre life plan community was opened in 1989 and was expanded and renovated in 2006. A recent master planning process identified a need for significant renovations and reconfigurations, as well as additional independent living apartments. Total financing included a $36 million short-term, taxable construction loan with a floating interest rate and a 12-year, $16.1 million taxable term loan maturing in 2030 with a fixed interest rate of 3.89 percent.

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