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Browsing Category "Housing Success Stories"

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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32 Days After Submission To HUD Sims Mortgage Funding (SMF) Refinances 2 Multifamily Rental Properties In Louisiana Totaling $23.4 Million

“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 […]
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Sims Mortgage Funding (SMF) Closes HUD-Insured Loan To Preserve Affordable Housing In New Jersey

“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, […]
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Sims Mortgage Funding (SMF) Recapitalizes Three Affordable Housing Projects In Minnesota With One HUD-Insured Loan

“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 […]
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