Wesley by the Bay is an affordable senior housing community located in Ocean City, NJ and sponsored by the United Methodist Homes of New Jersey. The Project, consisting of four buildings, was built in the early 1980s with a high-interest rate HUD Section 202 Direct Loan.
April 22, 2022
SMF Completes Complex, Challenging, Construction Financing
After a recent string of closing refinancing loans for healthcare properties, affordable seniors housing, market-rate housing and a safety-net hospital, Sims Mortgage Funding successfully closed in February a $9,247,200 HUD-insured construction loan for The Monroe.
February 24, 2022
When Perfect is the Enemy of the Good
We’ve all heard that expression, generally given to mean taking too much time to make a choice between two alternatives, one good but the other, perfect! But, if you deliberate too much, you may miss out on both and have nothing to show for your deliberations.
September 21, 2021
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.
July 21, 2021
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 […]
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.
October 27, 2020
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.
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.