Housing & Healthcare Finance’s Bridge Lending Success
Housing & Healthcare Finance’s Capital Advisory Group has certainly been a success since its launch nearly two years ago. Focusing on bridge loans and credit facilities, the program has closed over $650 million in transactions, so far. Isaac Haas and Neil Gamss, who lead the group, continued their good work into this summer, arranging over $100 million in bridge loans and credit lines in May and June. The largest of the closings included a $53 million bridge loan for a portfolio of skilled nursing facilities (and 948 total beds) in Wisconsin. Next up, Messrs. Haas and Gamss arranged a $37 million bridge loan on behalf of a SNF portfolio in Ohio with a combined 760 beds. A skilled... Read More »Housing & Healthcare Finance’s Bridge Lending Business
The bridge lending program at Housing & Healthcare Finance seems to be flourishing since its launch in Fall 2015. It had a strong year in 2016, when the Capital Advisory Group (which arranges bridge loans and revolving lines of credit) closed about $350 million in transactions. Now, the team of Isaac Haas and Neil Gamss isn’t letting up, closing over $65 million in bridge loans in April alone. All of the loans were for skilled nursing clients across the country, including a $14.8 million loan for two facilities (with 213 combined beds) in Cincinnati, Ohio, a $21.5 million loan for three facilities (with 346 beds) in Oklahoma and a $13 million loan for two facilities (also with 213... Read More »
New Future for HUD Lender
Housing & Healthcare Finance (HHC) is bringing on a new face to oversee its expansion efforts in the healthcare lending world, though this new addition is no stranger to healthcare finance. Keith Reuben, an industry veteran having been part of senior management at CapitalSource Inc. from 2001 to 2009, and then Executive Vice President of the Commercial and Specialty Finance Business at Capital One Bank from 2011 to 2015, has joined HHC as its CEO. The lender clearly has its niche in providing HUD financing to senior care properties, closing 28 transactions for a total of $355.9 million in FY2016, including the agency’s largest loan of the year: an $80.7 million loan to refinance a... Read More »HHC’s Fitting Finale
Housing & Healthcare Finance (HHC) finished the year with over $25 million in two more HUD transactions. First, for a portfolio of five Texas skilled nursing facilities all built between 1960 and 1985 and owned by an experienced operator, HHC closed five loans totaling $21.2 million. The financing, with interest rates in the low 3s, will help fund needed repairs across the portfolio. And then, HHC arranged $5.6 million, also with an interest rate in the low 3s, for a 94-bed skilled nursing/memory care facility in California. Built in 1964, the facility was also owned by an experienced operator. Read More »Schedule a demo
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