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Browsing Category "Housing Success Stories"

SMF Does the Jersey Shore, Preserves Affordable Elderly Housing

Wesley by the Bay is an affordable senior housing community located in Ocean City, NJ and sponsored by the United Methodist Homes of New Jersey. The Project, consisting of four buildings, was built in the early 1980s with a high-interest rate HUD Section 202 Direct Loan.
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SMF Completes Complex, Challenging, Construction Financing

After a recent string of closing refinancing loans for healthcare properties, affordable seniors housing, market-rate housing and a safety-net hospital, Sims Mortgage Funding successfully closed in February a $9,247,200 HUD-insured construction loan for The Monroe.
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When Perfect is the Enemy of the Good

We’ve all heard that expression, generally given to mean taking too much time to make a choice between two alternatives, one good but the other, perfect!  But, if you deliberate too much, you may miss out on both and have nothing to show for your deliberations.
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Ten Years Later, SMF Tallies A Transactional Triple-Play for Affordable Elderly Housing Communities in Pennsylvania

Triple-plays are a rarity in major league baseball: since 1876, there have only been 723, for an average of about 5 per season.
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SMF Uses Note Modification to Refinance Again an Affordable Elderly Housing Community in Brooklyn

Sims Mortgage Funding (SMF) recently served as Financial Advisor in connection with a $7,035,000 HUD-insured loan that closed in June for Marien-Heim of Sunset Park, a 169-unit, Section 8 elderly housing project sponsored by a local, not-for-profit community development organization. […]
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From the Jersey Meadowlands to the Bayou – Sims Mortgage Funding Has It Covered!

Although it is headquartered in New Jersey, Sims Mortgage Funding seems to have a second home in Louisiana – we have closed close to $530 million in HUD-insured loans in the Pelican State.
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Sims Mortgage Funding Closes Small Loan… Big Things Follow for Missouri Affordable Housing Provider

Sims Mortgage Funding is pleased to announce that we closed in late September a $3,237,200 loan for Opportunities Pavilion (OP), an 81 unit affordable, Section 8 elderly property in Kansas City, Missouri.
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SMF Cashes Out for Affordable Housing Project in Pennsylvania

The Project’s Sponsor owns four affordable housing properties in Pennsylvania and previously had turned to Sims Mortgage Funding to refinance two of them, on a “cash-out” basis.
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Sims Mortgage Funding (SMF) Closes $26,172,500 Loan for New Multifamily Rental Housing

Vintage Realty Company purchased the development rights for Elan at Terra Bella, a proposed 178-unit market-rate project in a Traditional Neighborhood Development (TND) on the North Shore, one of the fastest-growing sections of the New Orleans metropolitan area.
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A Bronx Tale: SMF Recapitalizes Affordable Housing Property A Second Time

“Sims’ knowledge and expertise in navigating with the HUD process, as well as, other governmental agencies and financial institutions has helped a great deal in reaching our designated goals for Notre Dame Apartments. We are grateful to Sims and would […]
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