Loan volume was up in fiscal year 2019 and the average loan size of $13 million set a new record for the FHA 232 mortgage insurance program, which provides financing for senior housing and care properties. Total loan volume for FY 2019 reached $3.7 billion, which was an increase from $3.6 billion a year prior, […]
HHC Finance
The Department of Housing and Urban Development’s Section 232 Healthcare Mortgage Insurance program has always been attractive to some senior housing borrowers—and that likely won’t change under President Donald Trump. In fact, HUD financing may become even more enticing to senior housing borrowers this year, especially with The Federal Reserve on Wednesday raising its benchmark […]
KeyBank Closes Acquisition Loan for Three Senior Housing Communities in Pennsylvania KeyBank Real Estate Capital’s healthcare platform recently closed an acquisition loan for Baltimore-based Capital Health Group to purchase three senior housing communities located in Southeast Pennsylvania. Together, the communities have more than 500 units. Shortly after purchasing the portfolio, Capital Health Group refinanced Key’s acquisition/bridge […]
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Senior housing companies have long been able to obtain financing through the Section 232 Healthcare Mortgage Insurance program under the Department of Housing and Urban Development (HUD). An update to the 232 Handbook recently has taken effect in 2017, improving access to that financing in several key ways. Senior housing borrowers may be able to […]
Housing & Healthcare Finance Announces New CEO Housing and Healthcare Finance (HHC) announced Keith D. Reuben as its new CEO. In addition, Erik Lindenauer will serve as the firm’s executive chairman, and Richard Lerner will serve as the firm’s executive vice chairman. The three will comprise HHC’s board. Reuben brings more than 20 years of […]
Senior housing companies may soon find it easier to obtain financing through the U.S. Department of Housing and Urban Development (HUD), thanks to changes that the agency has proposed in a new draft handbook for the Section 232 Healthcare Mortgage Insurance Program. Assisted living and other residential care facilities can use Section 232, also known […]
Walker & Dunlop Arranges $11M Loan for Fla. Independent Living Facility Walker & Dunlop, Inc. (NYSE: WD) provided an $11,000,000 acquisition bridge loan for Campo Felice Riverfront Housing, located in downtown Fort Myers, Fla. The MacFarlane Group, LLC will use the loan for the conversion of the currently vacant Ambassador Hotel to an independent living […]
Dwight Capital Funds $42 Million of HUD Loans in December Dwight Capital, a national provider of commercial loans, has announced that it has funded $41.5 million in Department of Housing and Urban Development (HUD) loans for three multifamily and senior housing properties. The properties include: Highland Park Apartments in Denver, Colo., Reserve at Towne Crossing […]
After a blockbuster year for The Department of Housing and Urban Development’s (HUD) lean mortgage insurance program in senior housing, volume fell more than 25% in fiscal year 2014, marking the end of a boom for government financing in the sector. But the news isn’t all bad, say the finance companies that work regularly with […]