HUD Mortgagee Letter Lowers Reverse Mortgage Proceeds By 10%

Senior Housing Finance Activity: Love Funding, Berkadia, Cambridge Capital (5/10/2012)

Love Funding Secures $8.56 Million Construction Loan for Fla. ALF Love Funding recently closed an $8.56 million loan for the construction and permanent financing of Viera Manor Assisted Living Facility, a new senior living center in Viera, Fla., meant to provide housing for U.S. veterans. Laura Saull-Smith, a senior director at Love Funding out of [...]

HCP Inc.’s Profits, FFO Soar in Q1 After Making $40 Million of Investments

Healthcare real estate investment trust HCP Inc. saw its net income attributable to common shares more than double in the first quarter ended March 31, 2012, to $175.3 million, compared to $63.9 million the previous year. Net income applicable to common shares rose to $0.43, compared to $0.17 in 2011. FFO per share increased 60% in [...]

How Senior Care Operators Can Use HUD to Finance Multi-Property Portfolios

In the current credit environment, financing through the U.S. Department of Housing and Urban Development (HUD) has become a favorite of borrowers. With its low, long-term fixed rates, flexibility, nonrecourse feature and other benefits, HUD is often the best available option for a borrower seeking to refinance or finance new construction or rehabilitation of a [...]

Net Income for Five Star Quality Care Plummets 91% in Q1 to $369,000

Nursing home operator Five Star Quality Care, Inc. (NYSE:FVE) saw its net income plunge 91% in the first quarter ended March 31, 2012 to $369,000, compared to $4.1 million in the same period last year, due in part to Medicare reimbursement cuts that went into effect in October 2011. This represents a net income per [...]

HUD Updates Senior Care Facility Loan Program Due to Growing Demand

After updating its multifamily rental project closing documents, the Department of Housing and Urban Development (HUD) moved on to the next task at hand: revising its healthcare facility documents “to utilize, as appropriate, the updated multifamily documents while also developing standardized healthcare facility-specific documents as necessary.”  The updates have been a long time in coming, [...]