HJ Sims Announces Financing of Second Tuscan Isle Community "Volterra at ChampionsGate"

FAIRFIELD, Conn., March 28, 2016 /PRNewswire/ -- HJ Sims, a privately held investment bank and brokerage firm, is pleased to announce the financing of Volterra at ChampionsGate, a Tuscan Isle Community and a new senior living community to be located in the mixed-use development "ChampionsGate" located in Four Corners, FL. The community will consist of 131 independent living apartments, 56 assisted living and 36 memory care suites, and will encompass approximately 220,000 square feet. Volterra at ChampionsGate will be a sister campus of Volterra at Solivita Marketplace, previously known as Tuscan Isle, which is being developed in nearby Kissimmee, Florida.

The independent living apartments will be constructed in a dedicated four-story building, while the assisted living and memory care suites will be located in a second building. Common areas for Volterra at ChampionsGate will include space for dining, activities and other amenities in approximately 220,000 square feet.

The site of the project is part of ChampionsGate, a mixed-use, master-planned development spanning approximately 2,300 acres, less than 20 minutes southwest of The Walt Disney World Resort. ChampionsGate consists of a variety of residential home units, a Del Webb active adult community, a luxury four-diamond Omni Resort, the ChampionsGate Golf Club, which includes two 18-hole championship golf courses designed by architect and golfer, Greg Norman, as well as the Leadbetter Golf Academy, and a retail center called "ChampionsGate Village" that includes a Publix grocery store, casual and fine dining, a pharmacy, banks and a gas station.

"We are excited to add Volterra at ChampionsGate, a Tuscan Isle Community. We look forward to the residents taking advantage of our great resort, restaurants, golf facilities and retail outlets, and becoming a vibrant part of the ChampionsGate community," says Marc Reicher, Senior Vice President, RIDA Development Corporation.

The Series 2016 Bonds were issued through the Florida Development Finance Corporation and consist of $48,240,000 in tax-exempt bond proceeds, as well as $2,930,000 in taxable bond proceeds. Sims also raised $6,800,000 of corporate bonds through a private placement to its extensive accredited investor base, which, collectively with the Series 2016 Bonds, was used to fund the Project, Debt Service Reserve, Operating and Capitalized Interest Funds, and pay certain costs of issuance.

"Our partnership with HJ Sims is very special to us. Our emerging relationship with ChampionsGate is exciting as is the continued expansion of our senior living portfolio." says Mike Comparato, Chairman, CEO Vieste Group, LLC.

The members of the owner of Volterra at ChampionsGate include: an affiliate of Vieste , a program management and development services company from Chicago IL; an affiliate of HJ Sims Investments, an established investor in senior living communities; an affiliate of Life Care Services, one of the largest owner/operators of senior housing in the US; an affiliate of Core Construction Services of Florida, the design builder and a Florida-based construction company with extensive experience in designing and building senior communities, and Windermere Strategic Partners, a senior living consulting group.

The operator has engaged Life Care Services, LLC, an Iowa limited liability company, as the manager of the project. Life Care Services, LLC has approximately 149 retirement communities under management contract, serving approximately 34,000 residents in 31 states and the District of Columbia. The development team includes Baker Barrios Architects from Orlando, Florida, as well as Solutions Advisors, LLC for marketing consultant services. The Master Developer is Vieste Social Infrastructure, LLC, an Indiana limited liability company.

"Sims is proud to be a part of this innovative, new community that will bring state-of-the-art senior living to the central Florida area. The location within ChampionsGate will make Volterra an exciting place to live and the strong management team will insure that the services are first rate," explains Jeff Sands, Managing Principal, HJ Sims.

ABOUT HJ SIMS

Founded in 1935 on Wall Street, HJ Sims is celebrating 80 years of service as a privately held investment bank and broker-dealer with approximately $1.8 billion of assets under management. HJ Sims is known as one of the country's oldest underwriters of tax-exempt and taxable bonds, having raised approximately $21 billion for projects throughout the US. The firm is headquartered in Fairfield, Connecticut, with investment banking, private client wealth management and trading offices in Maryland, Florida, Minnesota, New Jersey, Pennsylvania, Texas and Puerto Rico. All client assets are custodied at Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation. For more information, please visit: www.hjsims.com. Investments involve risk, including the possible fluctuation of principal. Member FINRA/SIPC^®. Follow HJ Sims on Facebook, LinkedIn, Twitter and Vimeo.

This is not an offer to sell. Such an offer should include a review of the Official Statement (available at www.hjsims.com/championsgate) which describes the terms and conditions of the 2016 bonds. Contact an HJ Sims Income Advisor for a copy of an Official Statement. The purchase and sale of securities should be conducted on an individual basis considering the risk tolerance and investment objectives of each investor and with the advice of counsel of a professional advisor. Investments involve risk including the possible fluctuation of principal. HJ Sims Investments, LLC, which is owned by certain principals of HJ Sims, is a member of the Obligated Group.

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