WILDWOOD, Fla. — HJ Sims has provided $53 million in financing for the development of Trinity Springs, an assisted living and memory care community in Wildwood, approximately 50 miles northwest of Orlando.
The borrower is Elim Senior Housing Inc., an affiliate of Minnesota-based nonprofit Elim Care Inc. Once completed the project will include 107 assisted living apartments and 48 memory care units.
Trinity Springs is located adjacent to The Villages, an age-restricted, master-planned community. This is Elim’s first project in Florida.
The financing is arranged as 35-year, tax-exempt bonds issued through the Capital Trust Agency.