Housing & Healthcare Finance (HHC Finance) arranged a trio of HUD loans this month, including a $14.5 million loan for a 120-bed skilled nursing facility in New York, a $14 million loan for a 170-bed SNF in Tennessee and a $6.5 million loan for another 120-bed SNF in New York. Each loan closed with a rate in the lower 2s and refinanced more expensive conventional debt.
Turning to HHC Finance’s Capital Advisory Group, led by Isaac Haas and Neil Gamss, the team had an active end to the year with $550 million in deals arranged in December alone. Most notably, Messrs. Haas and Gamss helped arrange acquisition financing for a skilled nursing portfolio in the Southeast and an assisted living portfolio in the Northeast. Plus, they secured additional acquisition financing for skilled nursing facilities in the Southeast and Midwest.
At the end of a busy year, HHC Finance has closed close to $550 million in HUD loan modifications and over $500 million in new HUD financings. And that is not even including the Capital Advisory Group’s total.
