Oak Grove Capital announced it has closed a $259 Fannie Mae DUS credit facility for Brookdale Senior Living.
With credit from private lenders tight, nursing homes are increasingly turning to the federal government for mortgage loans, according to a Thursday article in the Wall Street Journal.
It wasn't so long ago that long-term care operators looked at HUD funding with a disdain bordering on contempt. But the Department of Housing and Urban Development has come a long way in a short time. By staying in the game, offering good rates and speeding up its approval pipeline, this public option has quietly gained a newfound respectability.
Berkadia Commercial Mortgage recently closed on supplemental financing for affiliates of Capital Senior Living Corporation.