The Situation
John Knox Village of Florida is one of the largest single-site continuing care retirement communities (CCRCs) in the country.
The Challenge
Hamlin Capital Advisors represented John Knox Village as its pricing agent. Our role was to advise this client on the planning, sale, pricing and distribution strategy for a bond issue of approximately $30 million. The CCRC sought to finance a replacement nursing facility on its campus in Pompano Beach, Florida.
The Hamlin Solution
Hamlin gave John Knox Village significant input and guidance on how the transaction should be structured, timed, distributed and marketed. Given Hamlin’s access to major sales and trading desks around the country, we were able to independently evaluate the interest rate available to John Knox Village. When appropriate, we recommended new structures and pricing strategies. The result was a successful and orderly bond sale that resulted in substantially lower interest costs compared with the earlier estimate our client had received from the underwriter.
