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Sims Mortgage Funding (SMF) Connects with LeadingAge Members, Good Things Follow

Sims Mortgage Funding (SMF) has enjoyed a long and successful partnership with not-for-profit healthcare and senior housing providers that goes back to the company founding in the mid-1980s. In that regard, we have followed in the footsteps of HJ Sims, our parent company, which has been a long-term corporate sponsor of LeadingAge, a national association of not-for-profit organizations providing housing, health care and services to seniors.

SMF’s ongoing commitment to the not-for-profit segment of our client base was in full swing from April through the end of June, as our banking team participated in several LeadingAge annual meetings in states where we are very active. It was a perfect opportunity for our bankers to reconnect with their not-for-profit housing and health care clients, meet new providers who are interested in HUD-insured financing, and in one case, participate in the meeting as a presentation speaker. We were seen – and heard – at the LeadingAge annual meetings in Louisiana/Mississippi, New York, New Jersey, Connecticut, and Pennsylvania. These states represent a significant amount of our HUD lending activity – we have closed to $1.4 billion of loans there.

Anthony Luzzi, President of Sims Mortgage Funding, was one of three panelists at the LeadingAge Pennsylvania presentation titled “Senior Living Valuations and Applications: Foundations for Organizational Growth and Evolution”. The 90-minute presentation focused on how different capital sources (banks, tax-exempt bond financing, and HUD’s mortgage insurance programs) approach the valuation of senior housing and health care properties. One of the topics Anthony discussed is that updated HUD guidelines, which allow more flexible use of market data in developing the appraisal, have made it easier for not-for-profit projects to increase their leverage on refinancing transactions.

Contact us if you’re interested in learning more about this exciting development, or how a HUD-insured loan might be the right capital solution for you.