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2011 November

Love Funding Secures $4.96 Million Loan for Governor’s Village in Mayfield Village, Ohio

November 29, 2011

Washington, DC – Nov. 29, 2011 – Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $4.96 million loan refinancing for Governor’s Village, a 62-bed assisted living and dementia care facility in Mayfield Village, Ohio.

Love Funding First Vice President Robert L. Smallwood of the Cleveland office secured the loan through the U.S. Department of Housing and Urban Development’s 232/223(a)(7) LEAN loan program. Using the program enabled the property’s owner, Randall Residence, to generate about $36,000 in annual debt savings and pay off a 7 percent prepayment penalty through the sale of a Ginnie Mae mortgage-backed security and proceeds from the loan.
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Love Arranges $8.91 Million Loan for Orchard Park of Odessa

November 28, 2011

Love Funding has secured an $8.91 million construction-to-permanent loan for the 97-bed Orchard Park of Odessa, a 69,500-square-foot assisted living community in Odessa. Joshua Hausfeld of Love Funding’s Washington, D.C., office secured the 40-year loan through HUD’s 232 LEAN Program on behalf of the owners, McFarlin Group and Stroud Development, both of Dallas. The facility is slated to open in late 2012.

Love Funding Arranges $8.91 Million Construction Loan for Orchard Park of Odessa in Odessa, Texas

November 22, 2011

Washington, DC – Nov. 22, 2011 – Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of an $8.91 million construction-to-permanent loan for Orchard Park of Odessa, a 97-bed assisted living and memory care center under development in Odessa, Texas.
 
Love Funding Vice President Joshua Hausfeld secured the loan through the U.S. Department of Housing and Urban Development’s Section 232 LEAN program for new construction of healthcare facilities. Using the program enabled the property’s owners – McFarlin Group and Stroud Development – to lock in a low fixed interest rate for the duration of the construction period and 40-year permanent loan term.
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Love Funding Arranges Record $737.2 Million of FHA Loans in FY 2011

November 17, 2011

Love Funding arranged a record $737.2 million of Federal Housing Administration loans in fiscal year 2011, it announced on Tuesday, making it the agency’s third-ranked multifamily and healthcare lender in terms of volume.

Data released by the Department of Housing and Urban Development (HUD) showed a total of 67 multifamily and healthcare business transactions that Love Funding closed in fiscal 2011.
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Love Funding Secures $9.33 Million Loan Refinancing for Wellington Place Apartments in Champaign, Illinois

November 17, 2011

Washington, DC – Nov. 17, 2011 – Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $9.33 million loan refinancing for Wellington Place Apartments – Phase II, a 124-unit apartment and townhome community in Champaign, Illinois.
 
Love Funding Vice President and Loan Originator Jon Wagenknecht of the Chicago office secured the loan through the U.S. Department of Housing and Urban Development’s 223(f) loan program. Utilizing the program enabled the property’s owner to lock in a low interest rate for a 35-year term, generating approximately $25,000 per month in debt service savings.
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Calendar

Eastern Lenders Association Conference

Love Funding is sponsoring the Eastern Lenders Association Conference held March 5 – 7 at the Marriott Marquis Hotel in New York. Don’t miss ELA President and Love Funding Senior Vice President Jonathan S. Camps‘ welcoming remarks on Tuesday morning.

Mass Senior Care 2012 Spring Conference

Love Funding Senior Director Leonard A. Lucas will attend the Mass Senior Care 2012 Spring Conference & Trade Show held on Thursday, March 22nd at the Holiday Inn in Boxborough Woods.

NIC Skilled Nursing Investment Forum

Love Funding Originators Leonard A. Lucas, Joshua Hausfeld and Laura Saull-Smith will attend the NIC Skilled Nursing Investment Forum held March 25 – 27 at the Boca Raton Resort in Boca Raton, Florida. Don’t miss the panel discussion with Len Lucas on Monday, “Connecting Quality Care to Key Financial Indicators.” Click here for more information.

HFMA Region 5 Dixie Institute

Join Love Funding Senior Director of Hospital Finance Steven Hunt at the annual Region V Dixie Institute in Greensboro, GA, held February 21-24, 2012 at the Ritz Carlton Lodge Lake Oconee.

Market Commentary

Q1 2012 Market Commentary
The December nonfarm payroll report showed an unexpected increase of 200,000 jobs and a drop in the unemployment rate to 8.5 percent, the lowest level since 2009. Normally, this kind of good economic news would push rates up as bondholders sold their positions. Yet, this was not how things worked out...
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