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.
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.
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.
“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 […]
“When you work with a mortgage banker for 15 years they become as much a part of your team as your architects, engineers and contractors. Sims has consistently delivered positive results and have closed deals that otherwise would have never […]
“We really appreciated all of the hard work Sims provided our organization. They helped us navigate through a complicated HUD financing process that resulted in considerable financial benefit to the Sponsor, Borrower and our elderly residents.” – Fred Verna, President, […]
“We manage two HUD PRAC facilities and one Section 202 project. Our PRACs are 19 and 22 years old and have never been upgraded with new décor. Since borrowing funds to upgrade a PRAC is not an option and there […]
“The Sims team provided strong leadership and technical expertise in assisting Diakon with very complex re-financing of Frostburg Heights, an older property in our affordable housing portfolio. Despite numerous obstacles along the way, Sims was able to positively influence efforts […]
Partnered Right Vintage Realty Company was looking for financing for the Reserve at Couret Farms, a proposed 175-unit market-rate project to be located in a Traditional Neighborhood Development (TND) in an up-and-coming area of Lafayette. Structured Right SMF obtained key […]
Sims Mortgage Funding (SMF) recently closed an FHA-insured loan for the Shalom House, a 151-unit elderly project located in Ventnor, NJ. The Situation Shalom House was constructed in the early 1980s and financed with a HUD Section 202 Direct Loan. […]