Healthcare >> Acquisition or Refinance
* Up to 85% LTV for purchases
* Up to 85% LTV for rate and term refi
* Up to 80% LTV for cash out
* 35 year amortization
The HUD 232f program provides non-recourse financing for the purchase or refinance of intermediate care, board and care, residential care, skilled nursing facilities, and assisted living facilities.
To qualify, properties must accommodate 20 or more residents (20 or more beds) who require skilled nursing care and related medical services, or residents who are in need of minimum but continuous care provided by licensed or trained personnel. Facilities must offer residents three meals a day under these program guidelines.
Operating leases to qualified facility operators are permissible, subject to HUD approval. Major movable equipment, day-care facilities, and fire safety equipment may be financed under the 232 Program. Intermediate care facilities, board and care facilities, and skilled nursing facilities must be licensed or regulated by an appropriate governmental entity. Any geographic location is potentially acceptable. Financing under this program is not available for properties charging "up-front" or "founder's fees". New Resident assessment fees are permitted.