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 […]
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.
It has been just over one year since HUD waived its “three-year requirement” for multifamily projects to be eligible for mortgage insurance under the Section 223(f) refinancing and acquisition program. Prior to that, a multifamily […]
At first glance, that is an odd pairing, but stay with us, please. The Suez Canal was prominent in the news last week when a container ship became stuck, blocking the Canal and creating a […]
In golf it is called a mulligan. At the playground or school yard it is called a do-over. At the US Department of Housing and Urban Development (HUD) it is called an Operating Loss Loan […]
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.
Yogi Berra, baseball Hall-of-Famer and sometime philosopher, is said to have once remarked, “it’s déjà vu all over again”. If Yogi was alive today and made that comment, he could have easily been referring to the current low-interest rate environment, similar to what we experienced during the Great Recession of 2008, that has led to a New Wave of HUD-insured refinancing transactions.
In this final Part 3, we close out the series, and the capital stack, by discussing debt financing structures.