National Church Residences operates over 350 communities across the United States. Approximately 90% of those provide affordable housing for seniors, and the balance are market rate communities with independent living and healthcare offerings, targeting the senior population. National Church desired to put in place a bridge financing vehicle that would allow the organization to continue their strong growth objectives and react quickly to market opportunities. National Church also wanted to be able to access tax-exempt financing on a national platform in order to meet their growth targets.
In keeping with their operating philosophy of maximizing operational efficiencies, National Church wanted to access low interest rate capital with a flexible repayment structure.
National Church Residences and Hamlin Capital Advisors, LLC are pleased to announce the closing of FlexCap: a tax-exempt, variable rate, draw-down bond issue, with the first two projects funded under the commitment to be located in Florida. The variable rate bond is not insured or credit enhanced by a bank or a liquidity facility.
Custom Capital Solution
“Given the size and scope of our operations, we had very specific financing needs to meet our goals. Thanks to the work of Hamlin Capital Advisors, we worked collaboratively to complete this important financing with highly attractive terms. The flexibility provided by Hamlin’s customized financing package allows us to continue our Mission and provides a platform for strategic growth.”*
Steve Van Camp, SVP & CFO
National Church Residences
*Testimonials provided may not be representative of the experience of other clients. Such testimonials are no guarantee of future success or performance.