Housing & Healthcare Finance impressed in the last week of April, closing $117 million in HUD loan modifications for nine skilled nursing facilities in Illinois, Massachusetts and Pennsylvania. That is one area in the financing world that seems to have not slowed down as a result of COVID-19. That still took HHC Finance to react quickly to improving capital market conditions to lower their clients’ loan rates with almost no out-of-pocket expenses for them. The facilities receiving the rate modifications totaled 1,238 beds.
The good news kept on coming for HHC Finance, as Richard Lerner, Co-Owner and Executive Vice Chairman at the firm, was appointed Board Chairman at Englewood Health for both the system and hospital boards. Mr. Lerner has been a member of the system board since 2016 and the hospital board since 2014, along with serving as chair of the professional affairs committee, which oversaw and guided quality and patient safety efforts. We’re sure he will make a fine addition to the board, and congrats to him.
