Hunt Mortgage Group Finances With Freddie Mac

Hunt Mortgage Group Finances With Freddie Mac

A 57-unit age-restricted senior apartment community recently refinanced with the help of Hunt Mortgage Group. Located in Boise, Idaho, the property was developed in 1973 and expanded in 2000. It sits on three acres and features four one- and two-story buildings, along with a clubhouse, but has no services that would be found in an independent living community. A multifamily owner/operator with over four decades of operating in the Boise area had acquired this property more than 12 years ago and leveraged that long-term ownership to utilize Freddie Mac’s Small Balance Loan program to obtain a $1.8 million loan with a 10-year, fixed rate term, 30-year amortization and a yield maintenance... Read More »
Gryphon Senior Living Group Gets HUD Refinance

Gryphon Senior Living Group Gets HUD Refinance

Three years after acquiring a 40-unit Georgia assisted living community in receivership, Gryphon Senior Living Group is refinancing it through HUD. Built in 2000 as a licensed personal care facility in the town of Union City, an Atlanta suburb, this community features nine units of memory care and 31 assisted living units, with 50 total beds. It was operating near breakeven with 77% occupancy in 2014 and was in receivership at the time of closing. GlassRatner was the court-appointed receiver on behalf of a special lender in South Carolina, and Oak Senior Living was managing the property throughout the process. Chicago-based owner/operator Gryphon Senior Living Group then emerged as the... Read More »
Hunt Mortgage Group Hits It Out Of The Park

Hunt Mortgage Group Hits It Out Of The Park

Hunt Mortgage Group, a subsidiary of Hunt Companies and a commercial real estate lender, has been slowly building its seniors housing/skilled nursing business since its launch in 2015. Now, Director Jim Neil has announced the firm’s largest senior care transaction yet with a $27.6 million HUD refinance of eight skilled nursing facilities in Texas. The borrower, Senior Living Properties, significantly improved operations across the 841-bed portfolio, which consists of primarily older, rural facilities. Since taking over management in 2014, Senior Living Properties also entered the facilities in the Texas UPL program, which boosted their performance. With the refinance completed, the company... Read More »

Hunt and Healthcare

Entering the senior living/healthcare lending market, Hunt Mortgage Group closed its first transaction in that sector with an $8.85 million refinance loan for a 50-bed memory care community in Rockwall, Texas through its new balance sheet lending platform launched earlier this year. Jim Neil, Director of Healthcare Lending at Hunt, was the originator while Jenifer Williams led the underwriting team on the transaction. On the receiving end of this loan was The LaSalle Group, the developer of the prolific Autumn Leaves® brand of assisted living/memory care with 27 existing communities and 15 under construction. Its community in Rockwall opened in 2011 and stabilized by mid-2013. But when a... Read More »