Seniors Housing and Nursing Home Loans

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Seniors Housing and Nursing Home Loans
Commercial loans

Nursing Homes & Seniors Housing

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.

bulletMINIMUM LOAN: $5,000,000.00
Seniors Housing and Nursing Home Loans
bulletLOAN TERM: 5 to 30 Years
Seniors Housing and Nursing Home Loans
bulletAMORTIZATION: Up to 30 Years
Seniors Housing and Nursing Home Loans
bulletMINIMUM DSCR: 1.35x for Congregate Care. 1.40x for Assisted living facilities. (Minimum DSC reduced by five bsp for tax exempt bond financed projects)
Seniors Housing and Nursing Home Loans
bulletMAXIMUM LTV: 75% (80% for tax exempt bond financed projects)
Seniors Housing and Nursing Home Loans
bulletINTEREST RATE: Fixed
Seniors Housing and Nursing Home Loans
bulletELIGIBLE PROPERTY TYPES: Nursing Homes and Seniors Housing, Congregate Care and Assisted Living Facilities
Seniors Housing and Nursing Home Loans
bulletELIGIBLE BORROWER: Single Asset Entity
Seniors Housing and Nursing Home Loans
bulletOCCUPANCY REQUIREMENT: 90% Physical Occupancy for 60 days at application 90 days at commitment
Seniors Housing and Nursing Home Loans
bulletTAX AND INSURANCE ESCROWS: Monthly Deposits Required. May be waived if certain criteria are met
Seniors Housing and Nursing Home Loans
bulletREPLACEMENT RESERVES: Underwritten at a minimum of $150 per unit per annum - Monthly deposits may be waived if certain criteria are met
Seniors Housing and Nursing Home Loans
bulletRECOURSE: In Most Cases Non-Recourse With Standard Exceptions For Fraud and Misrepresentation
Seniors Housing and Nursing Home Loans
bulletCOMMERCIAL SPACE: Maximum 10% of net rentable area
Seniors Housing and Nursing Home Loans
bulletREQUIRED REPORTS: MAI Appraisal, Property Condition Assessment, Phase I and others if applicable
Seniors Housing and Nursing Home Loans
bulletPREPAYMENT: Defeasance or Yield Maintenance
Seniors Housing and Nursing Home Loans
bulletASSUMABLE: Subject to Approval and Fee
Seniors Housing and Nursing Home Loans
bulletSUBORDINATE FINANCING: Not allowed
Seniors Housing and Nursing Home Loans
bulletSUPPLEMENTAL LOANS: Eligible for secondary financing after 12 months subject to approval
Seniors Housing and Nursing Home Loans
bulletPRICING: Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV
Seniors Housing and Nursing Home Loans
bulletRATE LOCK: Standard 10 day rate lock periods
Seniors Housing and Nursing Home Loans
bulletCLOSING COSTS: Deposit required for third party reports, processing costs, title and legal. Travel and other standard costs if an when applicable
Seniors Housing and Nursing Home Loans
bulletORIGINATION FEE: PAR to 3% (In Addition to Closing Costs)
Seniors Housing and Nursing Home Loans

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.

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