HHC Finance Closes $81 Million in HUD Loans for a Portfolio of Six Skilled Nursing Facilities in Illinois
North Bethesda, MD, February 2019 - Housing & Healthcare Finance (HHC Finance), one of the leading HUD LEAN and multifamily lenders in the country, is pleased to announce the successful closing of $81 million in HUD loans for the Cascade Capital Group and Legacy Healthcare, a skilled nursing owner and operator based in Illinois.
The six HUD loans refinanced the higher rate, shorter term conventional debt for a portfolio of six skilled nursing facilities located in the greater Chicago area.
HHC Finance worked closely with the Cascade-Legacy team and HUD to secure the optimal term and lowest rate through HUD's 223(f( loan program.
"We were pleased to partner with HHC Finance on this refinancing," said Moti Ninio, CFO of Legacy Healthcare. "Their expertise in healthcare finance and ability to work through the complexities of the HUD process in such a seamless manner is second to none. They were fast, efficient, and responsive."
"Thank you to the Cascade-Legacy team for trusting HHC Finance with their permanent financing needs," said Erik Lindenauer, Executive Chairman of HHC Finance. "We are excited to support their continued growth and success in the long-term care industry."
About Housing & Healthcare Finance, LLC
Founded in 2002, Housing & Healthcare Finance, LLC (HHC Finance) is a commercial finance company headquartered in the Washington, DC area with additional offices throughout the country. HHC Finance provides expert commercial lending solutions to healthcare, multifamily, and senior housing companies nationwide.
In addition to being a leading HUD lender, we provide bridge loans, revolving lines of credit, and mezzanine financing through our Capital Advisory Group (CAG). Our industry expertise and rapid execution capabilities allow us to deliver innovative, flexible, and timely financings to our clients.