Housing & Healthcare Finance Closes Largest HUD Loan Portfolio This Year
CHEVY CHASE, MD, June 2014 - Housing & Healthcare Finance (HHC Finance) announces the closing of $205 million HUD loan portfolio consisting of 25 skilled nursing facilities located in the Southeast. The 232/223(f) loans refinanced existing conventional debt into stabilized, long-term debt at a low fixed interest rate and funded capex. "The financing presented a number of challenges to close including, a mid-size portfolio review at HUD, adapting to new documentation required under the HUD 232 program during the financing process and a simultaneous close on 25 properties in three states. However, collaborating with the Borrower and Operator enabled the team to achieve a successful transaction for all parties involved," said HHC Finance's Michael Gehl.
About Housing & Healthcare Finance, LLC
Founded in 2002, Housing & Healthcare Finance, LLC (HHC Finance) is one of the leading HUD healthcare and multifamily lenders in the U.S. HHC Finance’s expertise in the healthcare and multifamily markets allows it to provide loans that address all of its borrowers’ financing needs. In addition to HUD loans, HHC Finance also makes line of credit and bridge loans. The Company is headquartered in Chevy Chase, MD and has additional offices in New York, New Jersey, Pennsylvania, Maine, Ohio, Illinois, Wisconsin, and California. For more information, please visit www.hhcfinance.com or email firstname.lastname@example.org.