Housing & Healthcare Finance finished 2019 with a bang, closing four HUD loans worth over $62 million. The package refinanced four skilled nursing facilities in Maryland (2), Pennsylvania and Arkansas, all totaling 597 beds. The Mid-Atlantic facilities were built in the mid-1970s, while the Arkansas one opened in the early 2000s. The loans, which refinanced higher rate conventional debt, came with interest rates in the low- to mid-3s and terms between 30 and 35 years.
Housing & Healthcare Finance’s Capital Advisory Group, led by Isaac Haas and Neil Gamss, also impressed this December, placing 13 loans totaling over $172 million for clients in nine states. There were 10 bridge loans (mostly for acquisitions) and three A/R lines for working capital financing arranged for 12 skilled nursing facilities and one assisted living community. All in a month’s work.
