The newest drafting of a Department of Housing and Urban Development loan type is providing flexibility to senior housing providers in states where Medicaid reimbursements are known to take several months at a time. The first of the new Intercreditor Agreements, an account receivable loan type provided under HUD’s 232/223 program, was closed by Beech […]
Category: HUD
The Department of Housing and Urban Development announced on Tuesday a nearly $14.8 million commitment to preserving affordable rental assistance for senior residents of subsidized properties. The funding is provided through HUD’s Senior Preservation Rental Assistance Contracts (SPRACs) and is targeted for properties in the department’s Section 202 Supportive Housing for the Elderly program. Without […]
The Department of Housing and Urban Development (HUD) issued a new rule Friday that would ease the process for skilled nursing facilities (SNFs) located in flood-risk areas to make modifications or repairs. Previously, HUD-financed SNFs located in these at-risk flood areas were subject to an eight-step process before they could implement any building repairs or […]
Despite hurdles presented by the government shutdown in October, the landscape for Department of Housing and Urban Development senior housing and healthcare lending is looking much brighter, though a crossroads is expected ahead. The hurdles were not inconsequential, say those in the HUD lending space, as the shutdown on October 1 came just days after […]
In case you missed it, here are the top five stories grabbing Senior Housing News readers’ attention this week: 1. Developers Hot on High End Senior Housing Post-Recession—Some developers say that demand for high-end senior housing didn’t slow down due to recession, and they’re gearing up even more now that home values are coming back. 2. Spectrum’s […]
The Department of Housing and Urban Development reached its highest level of senior housing lending through its Section 232 program in fiscal year 2013, according to data released by the agency and analyzed by Lancaster Pollard this week. HUD insured $5.82 billion in loan volume, outpacing the previous year’s total by more than 6%. The […]
In a rising interest rate environment, senior housing lenders who work with the Department of Housing and Urban Development’s LEAN 232 program say they are anticipating fewer transactions in the coming year. But it could lead to more opportunity for new construction loans under HUD, which has comprised just a small percentage of HUD lending […]
Seniors are flocking to cooperative housing as a favorable option in some states, however, senior living developers don’t see much competition coming from the increasingly popular housing type. Of 103 senior housing cooperatives in the nation, 79 are located in the state of Minnesota, according to the Senior Cooperative Foundation of St. Paul, MN. The […]
Cambridge Subsidiary Closes $28 Million Loan Modification for Senior Housing Portfolio Cambridge Investment and Finance Co., a subsidiary of Cambridge Realty Capital Companies, announced closing a $28 million conventional loan modification for four properties it owns and operates as SunRidge Senior Living in El Paso, Texas. The firm purchased the portfolio 18 months ago from […]
In case you missed it, here are the top five stories grabbing Senior Housing News readers this week: 1. HUD Releases Government Shutdown Contingency Plan—The Department of Housing and Urban Development informed lenders it would keep vital functions running within the department through the government shutdown, but that multifamily and health care loans not already […]
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