HHC Finance’s Busy HUD Month
Summer vacation didn’t start at Housing & Healthcare Finance (HHC Finance), we suppose, as the firm closed seven HUD loans totaling $119 million in the month of June. The largest deal was a $61 million refinance of a 360-bed skilled nursing facility in New York. Built in the early-1970s but recently renovated, the facility was occupied in the mid-90s. HHC Finance followed that up with a $22 million HUD refinance of a 120-bed skilled nursing facility in Florida that was built in 2015 and occupied in the high-80s. Both loans were closed with interest rates in the mid-2s. That makes for some happy long-term clients. HHC Finance rounded out its June activity with five HUD loan... Read More »
HHC Finance Posts Strong Financing Activity in May
The team at Housing & Healthcare Finance (HHC Finance) reported a strong May, closed a couple of HUD loans and a number of rate modifications for senior care clients across the country. The two HUD loans totaled $31 million. A 108-unit assisted living community in Minnesota obtained the first. Built in 1996, it boasted an occupancy rate in the mid-90s. HHC Finance arranged the second HUD loan for a 191-bed skilled nursing facility in California. Built in 1991, it was also occupied in the mid-90s. Both refinances took out higher rate bank debt. HHC Finance didn’t stop there, taking advantage of near-record-low interest rates by closing five loan... Read More »
HHC Finance Impresses & Lerner Will Chair Englewood Health Boards
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... Read More »
Housing & Healthcare Finance Handles HUD Refinance
The team at Housing & Healthcare Finance has closed a couple of HUD financings totaling $57 million. There was a $34.1 million loan for a portfolio of five skilled nursing facilities located throughout Minnesota. The experienced borrower was able to replace conventional debt on the portfolio with a substantially higher interest rate. They came with 30- and 35-year terms. The loan amount came in at about $120,000 per bed/unit. Built from 1958 to 2008, averaging 38 years old, the portfolio totals 464 total beds. Two of the facilities also feature assisted living units. Occupancies ranged from the low-80s to the high-90s. Finally, HHC Finance closed a $22.8 million rate modification... Read More »Schedule a demo
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