VIUM Capital completed the first half of 2025 with an impressive $780 million in transaction par value. That volume was closed across 32 transactions, 51 separate properties and 14 states, comprising both bridge and permanent debt. It represents the strongest first half of the year in the company’s history. Part of that activity was more than $360 million in par value for 18 HUD/GNMA loans. And they have over $800 million of additional HUD volume already submitted.
VIUM had finished HUD’s fiscal year 2024 as the second ranked HUD healthcare lender, both in total volume ($450 million) and number of transactions closed (37). But year-to-date 2025 saw VIUM’s HUD/GNMA servicing portfolio surpass 100 loans. The firm also added a HUD-approved LEAN underwriter and several new analysts. So FY2025 should be another successful one for VIUM, potentially helped by HUD’s new Express Lane, which has received 15 total applications so far, issued eight commitments and averaged 12 days from pick-up to commitment.
One HUD highlight saw VIUM refinance a 226-bed skilled nursing facility in Kentucky that had Merchants Bank (MBI) bridge debt and partnership debt put in place at the facility’s acquisition in 2022. The sponsor had used an $18.08 million MBI bridge loan to effectuate the transaction, with VIUM completing the $23.92 million HUD takeout 25 months post-closing.
VIUM also secured a $49.95 million HUD loan for a skilled nursing portfolio totaling 404 beds in Pennsylvania. There was an existing MBI/VIUM bridge loan, and the HUD refinance also included shareholder note reimbursement for a repeat client. This was the third largest HUD healthcare loan in the Commonwealth of Pennsylvania.
Outside of its HUD activity, VIUM is actively targeting a doubling of its equity investments in its debt fund over the next year. Plus, the firm is looking to hire a Director of Debt Capital Markets to lead and manage its relationships with other banks and non-bank lenders.
In the first half of the year, VIUM and MBI provided a $15.44 million bridge loan for the acquisition of a 120-bed skilled nursing facility in Florida. The cash-flowing facility had positive momentum from its recently opened dialysis unit, so VIUM/MBI underwrote future cash flow based on the spot census at the facility, which proved that the dialysis unit had driven a higher quality mix almost immediately upon opening.
