Financing Assisted Living Facilities |

Congregate Care |

Nursing Homes | Seniors Housing

The program offers competitive terms for acquisition and refinancing of Assisted Living and Congregate Care Facilities, Nursing Homes and Seniors Housing programs.
MINIMUM LOAN: $5,000,000.00

LOAN TERM: 5 to 30 Years

AMORTIZATION: Up to 30 YearsMINIMUM DSCR: 1.35x to 1.40x (Minimum DSC reduced by five bsp for tax exempt bond financed projects)

MAXIMUM LTV: Case by Case


ELIGIBLE PROPERTY TYPES: Congregate Care and Assisted Living Facilities, Nursing Homes and Seniors Housing

ELIGIBLE BORROWER: Single Asset Entity

OCCUPANCY REQUIREMENT: Up to 90% Physical Occupancy for 60 days at application 90 days at commitment

TAX AND INSURANCE ESCROWS: Monthly Deposits Required. May be waived if certain criteria are met

REPLACEMENT RESERVES: Underwritten at a minimum of $150 per unit per annum - Monthly deposits may be waived if certain criteria are met

RECOURSE: Case by Case. In Some Cases Non-Recourse With Standard Exceptions For Fraud and Misrepresentation

COMMERCIAL SPACE: Maximum 10% of net rentable area

REQUIRED REPORTS: MAI Appraisal, Property Condition Assessment, Phase I and others if applicable

PREPAYMENT: Defeasance or Yield Maintenance

ASSUMABLE: Subject to Approval and Fee


SUPPLEMENTAL LOANS: Eligible for secondary financing after 12 months subject to approval

PRICING: Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV

RATE LOCK: Standard 10 day rate lock periods

ORIGINATION FEE: PAR to 3% + 1-4 Points. (In Addition to Closing Costs)

CONSTRUCTION FINANCE: Construction financing may be available at (TBD LTV) of project cost. Term (interest only) 12 to 36 month depending on the project. Upon project's 90% occupancy it may qualify for refinancing under above stated terms. Full recourse required during construction period. Other terms and conditions apply
Above may be subject to availability or changes at time of application and/or commitment.

IMPORTANT: This is not an offer to make a loan, all requests are subject to normal due-diligence and final approval under conditions that are standard for the specific transaction. The above terms and conditions are subject to change without prior notice and other terms and conditions apply.