HFC proudly announces the closing of a $1,200,000 pre-development line of credit for Fahrney Keedy Home & Village of Boonsboro, MD (FKHV). FKHV anticipates a campus-wide expansion and renovation of its facilities and service offerings over the next five years. HFC, as FKHV’s exclusive financing advisor, will be an integral part of the planning and […]
HFC Congratulates the Wildewood Operating Company on the sale of Autumn Assisted Living at Wildewood to Sentio Investments, a real estate investment trust. HFC acted as advisor to the seller on the $9,650,000 sale. This 48 unit property in California, MD has been renamed “Spring Village of Wildewood” and is being operated by Woodbine Senior […]
HFC congratulates Runk & Pratt on the continued success in filling its newest project, Liberty Ridge in Lynchburg, Va. HFC acted as advisor for Runk & Pratt in its lease negotiations with the project developer. More information on Liberty Ridge, its products and services can be found on their website: www.libertyridgeretirement.com/
HFC was approached by the buyer of a 32 unit, 56 bed assisted living facility which had a HUD guaranteed loan in place to arrange for both the Transfer of Physical Assets approval for the buyer to assume the existing debt and to concurrently reset the interest rate through the (a)7 program. HFC successfully navigated […]
Egle Nursing Home, a 66 bed skilled nursing facility in Lonaconing, Maryland, had a HUD guaranteed loan in place with a 6.5% interest rate. Given upcoming changes in Maryland’s Medicaid reimbursement system, finding opportunities to reduce costs became critical. HFC suggested HUD’s new, low cost Note Modification program through their existing lender to reset the […]
Mid-Atlantic Healthcare, a growing chain of skilled nursing facilities purchased Chapel Hill Nursing and Rehabilitation Center in Randallstown, Maryland in June 2008, subject to a HUD guaranteed financing already in place. At that time, HFC had obtained the Transfer of Physical Assets approval from HUD to permit the purchase. HFC suggested that Mid-Atlantic pursue an […]
HFC closed a $5,631,900 HUD program 232 a (7) non-recourse rate reset loan for Milford Manor Nursing Home, a 100 bed skilled nursing facility in Baltimore, Maryland. This refinance reduced the Borrower’s interest rate from 6.98% to 3.95% fixed. The borrower also wanted to use loan proceeds for significant repairs and improvements to the property. […]
$6,545,000 HUD Program 232 a(7) non-recourse Rate Reset loan for a fifty-seven (57) unit, one hundred twenty (120) bed skilled nursing facility in Virginia. The interest rate decline to 2.88% had a net effect of reducing debt service by 14.3%. More importantly to the client, increasing the note amount covered a major portion of the […]
$12,105,000 in term loans to refinance four (4) assisted living facilities in Virginia. These commercial bank financings generated $1,875,000 in new capital for the company, while simultaneously lowering debt service by 46%. HFC achieved these results through negotiated lower interest rates, extended amortization, and limiting closing costs. Concurrently, HFC assisted in the negotiation and implementation […]