NEW YORK, NY - Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it provided a loan in the amount of $27.6 million to refinance eight skilled nursing facilities located throughout Texas. The financing was arranged through the HUD LEAN program and closed with the Fort Worth, Texas HUD office.
The borrower is Senior Living Properties, LLC, an owner-operator of 31 skilled nursing facilities in Texas. Senior Living Properties is known today for setting a high standard for the delivery of quality health care services in the communities they serve. The properties include 841 licensed nursing home beds that are critical to seniors in their communities.
“Senior Living Properties came under new management in 2014 and the new leadership team has completed one of the best turn-arounds that I have ever seen, both operationally and clinically,” noted Jim Neil, Director at Hunt Mortgage Group. “The HUD office in Fort Worth informed us that this is the largest number of LEAN transactions that they have ever closed in a single day. We are very pleased with the work the HUD LEAN group, underwriters and closing staff did for us and for our client. This was a complex group of transactions. It took an amazing team with tremendous expertise to get us to the finish line.”
Proceeds from the new loans will enable Senior Living Properties to refinance a temporary loan to permanent fixed rated loans and provide funds for repairs and improvements that the Company saw as important for the long-term vision for each property.
About Hunt Mortgage Group: Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products. Since inception, the Company has structured more than $21 billion of loans and today maintains a servicing portfolio of more than $12.5 billion. Headquartered in New York City, Hunt Mortgage Group has 198 professionals in 23 locations throughout the United States. To learn more, visit www.huntmortgagegroup.com