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Senior housing generally refers to housing intended for elderly individuals. This can come in several forms, including independent living communities for those 55-65+, nursing homes, assisted living centers, and Alzheimer's/memory care facilities
This week, Janover Ventures’ Brandon Ramineh closed a $2.6 million bank loan for Morningstar Care Homes, LLC. The deal contained two assisted living properties located in Fredonia and Neodesha, Kansas.
HUD 232 loan borrowers have traditionally needed to wait 24 months after taking cash out from a lender before refinancing with HUD. Fortunately, HUD recently adjusted their rules to eliminate this waiting period, provided that the proposed loan fits several other parameters.
The HUD 202 program, which provides eligible non-profits financing to create or acquire affordable properties for senior citizens, might be getting yet another boost. Specifically, Congress has permitted Section 202 PRAC properties to take part in the Rental Assistance Demonstration (RAD) program.