News - July 11, 2022
For Immediate Release
Contact: Elizabeth Bement | C: 703.915.5830
(Alexandria, VA) July 11, 2022 – Goodwin Living™ announced today that it has completed a refinancing of its capital sources. The move, which takes advantage of opportunities to reduce its debt service expenses, involves $122.5 million.
“Goodwin Living has a long history of strong financial stewardship, from how we structure our financing to achieving and sustaining a strong rating of BBB+ from Fitch Ratings,” said Xan Smith, Goodwin Living Chief Financial Officer. “With this refinancing we will be able to reinvest several million dollars back into our mission to support, honor and uplift the lives of older adults and those who care for them.”
Celebrating 55 years of providing exceptional service to older adults, Goodwin Living is a not-for-profit, Virginia-based corporation serving 2,300 older adults with options that include: two Life Plan Communities—Goodwin House Alexandria and Goodwin House Bailey’s Crossroads; an innovative continuing care at home program—Goodwin Living at Home; and a portfolio of healthcare services and partnerships delivering Home Health, Rehabilitation, Primary Care, Palliative Care, Hospice and Brain Health.
On June 16, Goodwin Living™ was named one of the top 10 organizations in The Washington Post 2022 Top Workplaces in the Greater Washington Area, and ranked No. 5 in the large company category on the list of organizations receiving a Top Workplace designation. Goodwin Living has now achieved a Washington Post Top Workplace ranking for all four consecutive years in which it has competed for this honor.
“A hallmark of not-for-profit senior living organizations is that we reinvest savings and income back into our mission with programming for the older adults we serve and team members,” said Rob Liebreich, Goodwin Living President & CEO. “We are grateful to be able to reinvest the impressive savings from this refinancing into growing our standing as a provider of choice for older adults and an employer of choice across the National Capital Region.”
Goodwin Living was assisted in the refinancing by HJ Sims, a highly-respected underwriter of financings for not-for-profit senior living providers.
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About Goodwin Living™ (goodwinliving.org): Goodwin Living™ touches the lives of thousands of people every day through its range of senior living communities, specialized healthcare services, community partnerships and philanthropic endeavors. With a mission to support, honor and uplift the lives of others (specifically older adults and those who care for them), Goodwin Living leads the way in expanding the places and ways we can all thrive and find purpose as we age. Older adults will discover options that meet them where they want to be, and those options are managed and provided by team members who represent more than 60 countries. Goodwin Living is a Washington Post Top Workplace for four consecutive years, from 2019 to 2022. Get more information at GoodwinLiving.org or by following Goodwin Living on Facebook and LinkedIn.