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Browsing Category "Success Stories"

Sims Mortgage Funding Closes $20,677,900 Loan For Construction of Multifamily Rental Housing in Lafayette, LA

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 […]
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Sims Mortgage Funding Closes $19,873,000 For Two Hud-Insured Lean Loans To Recapitalize Skilled Nursing Homes In Rhode Island

Partnered Right Athena Health Care Systems successfully refinanced two skilled nursing homes it acquired with bank debt in 2013 and 2014. Structured Right The two new loans were incorporated into an existing Master Lease that covered two other Athena nursing […]
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SMF Closes HUD-Insured Loan to Preserve Affordable Housing in New Jersey

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. […]
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SMF Uses Lean Note Modification to Refinance New York Nursing Facility

Sims Mortgage Funding (SMF) recently served as Financial Advisor in connection with a $13,656,333 FHA-insured loan for the Island Nursing and Rehabilitation Center, a 120-bed facility located in Holtzville, NY. The Situation Island has been a client of SMF for […]
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SMF Closes $19,642,600 FHA-insured Loan in Lake Charles, LA.

Sims Mortgage Funding (SMF) recently closed a $19,642,600 FHA-insured loan to finance the construction of multifamily rental housing in metropolitan Lake Charles, LA. The Situation Belle Savanne Apartment Homes will be a 208-unit market-rate rental property oriented towards a growing […]
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SMF Closes a $5,089,900 Loan That Preserves Affordable, Elderly Housing in Pennsylvania

Sims Mortgage Funding, Inc. (SMF) closed in August a $5,089,900 HUD-insured loan for St. Matthew Manor, a 58-unit, Section 202 elderly housing property located in West Philadelphia, PA. The Challenge St. Matthew Manor is sponsored by the St. Matthew African […]
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SMF Closes $22.8 Million HUD Lean Portfolio Transaction

Sims Mortgage Funding recently closed $22,836,000 in HUD-insured loans under the Lean program that enabled a major New England health care provider to repay a bank loan it incurred in connection with its acquisition in 2011 of two nursing homes […]
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SMF Closes a $3,240,000 Loan That Preserves Affordable, Elderly Housing in Pennsylvania

Sims Mortgage Funding, Inc. (SMF) closed in November a $3,240,000 HUD-insured recapitalization loan for McDade – Chichilla Apartments, a 90-unit, age-restricted rental property located in Olyphant, PA. It has a Section 8 Housing Assistance Rental Contract that runs for 20 […]
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SMF Closes a $1,800,000 Loan That Preserves Affordable, Elderly Housing in Michigan

Sims Mortgage Funding, Inc. (SMF) closed in September a $1,800,000 HUD-insured Section 223(f) loan for the AuSable Valley Apartments, a Section 202 elderly project located in Fairview, MI. AuSable is owned and managed by Wellspring Lutheran Services, a not-for-profit organization […]
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Making It Happen Through A Second Note Modification

How a single FHA-insured mortgage note originated by SMF in 1991 produced three separate transactions and created value savings for the client that exceeded transaction costs 23 times.
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