Austin-Area Assisted Living Gets HUD Financing

June 5, 2018, Steve Monroe, Senior Care Investor - An experienced ownership group went through Housing and Healthcare Finance (HHC Finance) to refinance its conventional debt on its 32-unit assisted living/memory care community in Kyle, Texas.

Located about 15 miles south of Austin, the community was built in 2014 (around when development was especially heating up in certain markets in Texas) and currently operates at occupancy in the mid-90s.

It had inplace, higher rate and shorter term conventional and subordinated debt but was able to replace it with a $4.86 million HUD loan, arranged by HHC Finance.