Housing & Healthcare Finance (HHC Finance) just announced four transactions from its HUD pipeline, totaling more than $44 million. The first deal was closed for a 120-bed skilled nursing facility in Ohio. Built in the early 1970s, it had occupancy in the low 90s and received a $10 million loan. Another skilled nursing facility in Ohio then obtained a $10.2 million loan from HHC Finance. That 93-bed facility was a little older (built in the mid-1960s) and was also well occupied around 95%.
Next, HHC Finance closed a $10.5 million HUD loan for a 100-bed skilled nursing facility in Maryland. And finally, the firm closed its largest deal of the group for a 165-bed skilled nursing facility in New York. That loan totaled $13.5 million. Amid all the loan closings, HHC Finance also closed an $8.5 million HUD loan modification for another skilled nursing client in New York. That makes for a busy summer, so far.
