InterFace Multifamily Southeast Conference

|InterFace Multifamily Southeast Conference|

InterFace Multifamily Southeast Conference

Love Funding’s Kenneth Charbauski and Brad Tucker will be attending InterFace Conference Group’s Multifamily Southeast Conference.

Love Funding is consistently ranked among the nation’s top HUD multifamily lenders. Our team has the knowledge and experience to expertly process your loan and get you to the closing table as efficiently as possible. To learn more, connect with us at the InterFace Multifamily Southeast Conference.


SCHEDULE A MEETING

Fill out the form below to schedule a time to discuss your financing needs with an experienced originator.

2017-11-16T19:24:30+00:00

Acquisition/Rehab Financing for MI Apartments

Love Funding closed a $9.9 million loan to purchase and significantly rehabilitate Newman Court Apartments, an affordable community in Pontiac, Michigan.

Newman Court Apartments offers 172 one-, two- and three-bedroom units. The apartments are located in 19 one- and two-story buildings originally constructed in 1971 and 1972. The property will undergo significant renovations through the use of 4 percent low-income housing tax credits (LIHTCs) allocated by the Michigan State Housing Development Authority. All of the apartments will continue to be tax-credit-restricted under a new 20-year Section 8 HAP contract.

The financing was secured by Love Funding’s Cleveland office through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. The HUD program provided the development team with low-rate, non-recourse financing for a 35-year term. The City of Pontiac approved the property for payment in lieu of taxes (PILOT), which will set annual property taxes at 7 percent for the full length of the mortgage term.

The ownership group, MHT, is a not-for-profit affordable housing corporation that has been serving Michigan and the Pacific Northwest since 1990. MHT will continue to employ Continental Management, a fully-integrated property management company with experience in the affordable housing industry. The general contractor for the rehabilitation project is Continental Construction Management.

For more information, contact Bruce Gerhart at (216) 583-0812 or or Dave Strachan (216) 925-4788.

2017-11-16T21:37:11+00:00 Relevant Experience|

HUD’s RAD Program + Affordable Housing

A Demo for partnership: HUD’s RAD program taps private dollars to preserve affordable public housing

By Mark Dellonte, Opinion Contributor — Published 

In many public housing communities around the country, conditions are quickly becoming unlivable. Collectively, public housing authorities (PHAs) face a backlog of $26 billion in deferred maintenance and it’s growing by the day because the properties continue to age and the PHAs have fewer resources than ever before to maintain them. The problem is made all the more pressing by the fact that roughly nine out of every 10 households that live in public housing include minor, elderly or disabled family members. (more…)

2017-10-30T19:31:49+00:00 Industry News|

Bridge Financing for Apartment Construction

Construction Bridge Loan

Fairhaven Harbor Apts | Bellingham, WA

Love Funding, a subsidiary of Midland States Bancorp, Inc. and one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, closed a $13.5 million bridge loan for the construction and mini-permanent financing of Fairhaven Harbor Apartments, a market-rate community in Bellingham, Washington. (more…)

2017-10-30T16:46:40+00:00 Relevant Experience|

Novogradac Tax Credit Housing Finance Conference

Love Funding’s David Strachan will be attending Novogradac’s Tax Credit Housing Finance Conference.

Our experienced team has extensive experience underwriting HUD-insured loans involving tax-exempt bonds, low income housing tax credits (LIHTCs), historic tax credits, new market tax credits, Section 8 rental contracts and various government programs for subordinated loans or grants. We also offer a bridge loan platform, which provides interim and construction funding for projects seeking long-term, permanent financing using HUD loan programs. To learn more about HUD-insured loan programs, connect with us at the Novogradac Tax Credit Housing Finance conference.


SCHEDULE A MEETING

Fill out the form below to schedule a time to discuss your financing needs with an experienced originator.

2017-10-25T09:37:49+00:00

AHF Live Summit

Love Funding Regional Director Bruce P. Gerhart, Directors David Hirsch and David Opalek, and Associate Director David Strachan will be exhibiting at booth #45 during the AHF Live Summit.

Interested in learning more about financing with 4% and 9% Low Income Housing Tax Credits? Join Bruce for the Tax Credit and Tax-Exempt Bond Bootcamp on Tuesday, November 14.

Our experienced team has extensive experience underwriting HUD-insured loans involving tax-exempt bonds, low income housing tax credits (LIHTCs), historic tax credits, new market tax credits, Section 8 rental contracts and various government programs for subordinated loans or grants. We also offer a bridge loan platform, which provides interim and construction funding for projects seeking long-term, permanent financing using HUD loan programs. To learn more about HUD-insured loan programs, connect with us at the AHF Live Summit.


SCHEDULE A MEETING

Fill out the form below to schedule a time to discuss your financing needs with an experienced originator.

2017-10-25T09:44:51+00:00

MA Senior Care Annual Meeting & Trade Show

Love Funding Senior Director Leonard A. Lucas will be exhibiting at the Massachusetts Senior Care Association’s Annual Meeting & Trade Show.

As an experienced HUD LEAN lender, we offer finance programs for assisted living (ALF), skilled nursing (SNF) and memory care facilities (up to 25 – 30% of a healthcare facility can have an independent living component). We also offer a bridge loan platform, which provides interim and construction funding for seniors housing/healthcare facilities seeking long-term, permanent financing using HUD-insured loan programs. To learn more connect with us at the MA Senior Care Association Annual Meeting & Trade Show.

 


SCHEDULE A MEETING

Fill out the form below to schedule a time to discuss your financing needs with an experienced originator.

 

2017-10-25T09:39:38+00:00

Ohio Housing Conference

Love Funding Director David Opalek will be exhibiting at booth #410 at the Ohio Housing Conference.

Our experienced team has extensive experience underwriting HUD-insured loans involving tax-exempt bonds, low income housing tax credits (LIHTCs), historic tax credits, new market tax credits, Section 8 rental contracts and various government programs for subordinated loans or grants. We also offer a bridge loan platform, which provides interim and construction funding for projects seeking long-term, permanent financing using HUD loan programs. To learn more about HUD-insured loan programs, connect with us at the Ohio Housing Conference.


SCHEDULE A MEETING

Fill out the form below to schedule a time to discuss your financing needs with an experienced originator.

2017-11-01T13:11:50+00:00

Q3 2017 Reporting Reminder to Healthcare Borrowers

Attention Healthcare Operators!

Q3 2017 financials due to Love Funding no later than November 29

On a quarterly basis, certified financial statements must be prepared by the CFO of the facility and submitted electronically to Love Funding at: financialstatements@lovefunding.com

Certified statements can be produced to report monthly, quarterly or annual results and must be cumulative for the period covered. Note: Actual Number of Resident Days must be included.

Questions? Contact Tina Pelton, Asset Manager at tpelton@lovefunding.com or (202) 591-3682

 

 

2017-10-19T19:57:49+00:00 Industry News|
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