Merchants Capital Finances New Middle-Income Communities

A Midwestern developer of affordable and middle-income senior living communities, Wallick Communities, recently opened three assisted living communities in Ohio and obtained bridge financing to fund them through lease-up towards an eventual refinance with HUD. Merchants Capital, a division of Merchants Bank, arranged the nearly $50 million in bridge loans for the three developments. They […]

Lancaster Pollard Keeps the HUD Closings Coming

Lancaster Pollard Mortgage Company just closed its 16th HUD financing since the government shutdown ended in January. They clearly did their leg work during the shutdown, as in the first three weeks following it, 16 of the 25 FHA 232 commitments issued by HUD went to Lancaster Pollard, for a total of $224 million in […]

Greystone Refinances SentosaCare’s Southampton SNF

Five years have passed since Greystone arranged a $54.5 million acquisition bridge loan for SentosaCare to purchase a 280-bed skilled nursing facility in Southampton, New York. That means it’s time for a refinance, which Fred Levine obliged by arranging a $58.8 million HUD loan with a 35-year term ($210,000 per bed). Located on nine acres […]