HHC Finance Closes $22 Million HUD Loan for Multifamily Property in Michigan
North Bethesda, MD, February 2020 - Housing & Healthcare Finance (HHC Finance), a leading HUD multifamily and healthcare lender, recently announced the closing of a $22 million HUD loan for a 360 unit, market-rate multifamily property in Michigan.
HHC Finance refinanced the existing conventional debt on the building through HUD's 207/223(f) program. The fixed-rate, non-recourse, fully amortizing refinancing lowered the borrower's interest rate and extended the debt's term for a significantly longer period.
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) which is led by Isaac Haas and Neil Gamss. Our industry expertise and rapid execution capabilities allow us to deliver innovative, flexible, and timely financings to our clients.