CFG

The program offers competitive terms for acquisition and refinancing of Nursing Homes and Seniors Housing programs (Construction available for Seniors Housing), Assisted Living and Congregate Care Facilities.

MINIMUM LOAN: $5,000,000.00 LOAN TERM: 5 to 30 Years AMORTIZATION: Up to 30 Years MINIMUM DSCR: 1.35x for Congregate Care. 1.40x for Assisted living facilities. (Minimum DSC reduced by five bsp for tax exempt bond financed projects) MAXIMUM LTV: 75% (80% for tax exempt bond financed projects) INTEREST RATE: Fixed ELIGIBLE PROPERTY TYPES: Nursing Homes and Seniors Housing, Congregate Care and Assisted Living Facilities ELIGIBLE BORROWER: Single Asset Entity OCCUPANCY REQUIREMENT: 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: In Most 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 SUBORDINATE FINANCING: Not allowed 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% (In Addition to Closing Costs)

APPLY ONLINE

Program availability and terms may change without prior notice.

If you have any questions, and you know the direct number of your representative, please contact your representative direct.

If you need the direct number of your representative, or would like a representative to contact you, please click here to contact us via email. Thank you.