X

News

Midterm Election Madness as Analyzed by SMF

The 2018 mid-term elections gave both Democrats and Republicans something to like. The former now have control of the House of Representatives for the first time since 2010, while the latter have expanded - albeit slightly - their control of the Senate.
Read More

Sims Mortgage Funding (SMF) Closes $22,128,200 Refinance Loan for Memory Care Facility

Artis Senior Living, a developer/owner/operator of assisted living residences, wanted to leverage the considerable equity it had built up in one of its memory care facilities in the Washington, DC metropolitan area.
Read More

HUD Mortgage Insurance Activity at the Three-Quarter Pole

Former New York City Mayor Ed Koch used to walk the streets of his city asking the public, “How am I doing?” Had he run into Hall-of-Fame football coach (and New Jersey native) Bill Parcells, the answer would have been, “Mayor, you are what you record says you are!”
Read More

When Is An Independent Living Facility Not One?

The “donut hole” in HUD’s coverage of the senior housing and healthcare continuum is for unlicensed, rental independent living (IL). HUD insures mortgage loans for skilled nursing and assisted living under the Section 232 program, but they limit the inclusion of unlicensed IL units in these projects to no more than 25% of the total.
Read More

Next Gen Sec 202 Prac Recap Moves Fwd. What?

Regular visitors to this space know that we have written periodically about HUD’s efforts to develop a new recapitalization program for its “second generation” Section 202 elderly housing projects. HUD moved closer to this goal earlier this month when it sponsored an online conference titled “RAD for PRAC Projects Listening Session”.
Read More

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.
Read More

HUD Hearts Affordable Housing!

If you ask five mortgage (or investment) bankers to define an affordable housing project, you’ll likely get ten different answers! It seems like just about every multifamily capital source, from state housing authorities to tax-credit […]
Read More

How Did HUD Do Last Year? Very Well, Thank You!

In last month’s edition, we asserted that one year and change after the 2016 election, under the new administration HUD’s multifamily and healthcare mortgage insurance platforms continued to function effectively. This month, we provide some […]
Read More