Housing & Healthcare Finance Closes $76 million in HUD Loans To Refinance 3 Skilled Nursing Facilities in California
CHEVY CHASE, MD, May 2015 - Housing & Healthcare Finance (HHC Finance), the #1 HUD healthcare lender in the country, recently closed $76.4 million in HUD 232/223(f) loans to refinance the conventional debt on three skilled nursing facilities located in California. The non-recourse, fixed rate HUD loans include $27.5 million for a 139-bed facility and $28.8 million for a 180-bed facility both of which are located Northern California. The third HUD loan was $20.1 million for a 163-bed facility in Southern California.
The experienced owner, which operates several skilled nursing facilities throughout the state of California, locked in low interest rates for 30 years on each of the facilities.
HHC Finance, which finished HUD's FY 2014 as the #1 HUD lender in the country, closed the three loans simultaneously.
"This was a complex transaction with many moving parts because the loans we refinanced were cross-collateralized with other loans in a large credit facility," said Erik Lindenauer, Director at HHC Finance. "We were pleased to meet our customer's expectations and lock in low rates for them for the next 30 years."
About Housing & Healthcare Finance, LLC
Founded in 2002, Housing & Healthcare Finance, LLC (HHC Finance) is the leading HUD healthcare lender in the U.S. finishing HUD’s FY 2014 with over $748 million in loans closed. In addition to HUD healthcare and multifamily loans, HHC Finance provides line of credit and bridge financing. The Company’s expertise in the healthcare and multifamily markets allows it to provide loans that address all of its borrowers’ financing needs. The Company is headquartered in Chevy Chase, MD and has additional offices in New York, Pennsylvania, New Jersey, Ohio, Illinois, Wisconsin, and California. For more information, please visit www.hhcfinance.com or email firstname.lastname@example.org.