Love Funding Arranges Record $737.2 Million of FHA Multifamily and Healthcare Loans in Fiscal 2011

||Love Funding Arranges Record $737.2 Million of FHA Multifamily and Healthcare Loans in Fiscal 2011

Washington, DC – Nov. 15, 2011 – Love Funding announced today that it arranged a record volume of FHA loans during the federal government’s fiscal year ended in September, making it the agency’s third-ranked multifamily and healthcare lender.
 
Love Funding originated and underwrote $737.2 million in multifamily and healthcare business that closed in fiscal 2011, totaling 67 transactions, according to data released by the U.S. Department of Housing and Urban Development.

HUD has seen a surge in demand for its multifamily and healthcare loan insurance programs over the past few years as private lenders stayed on the sidelines. Love Funding joined the upper ranks of the nation’s FHA lenders in 2007, when the company exited other commercial financing businesses to focus on leveraging its expertise in HUD’s multifamily and healthcare financing programs. The company expanded its product offerings this year by launching a dedicated division for hospital financing.
 
“These outstanding results would not have been possible without the exceptional team of originators, underwriters, closers and support staff that continue to make client satisfaction the company’s top priority,” said Love Funding President Mark Dellonte. “We’re looking forward to another strong performance in 2012.”
 
The company’s results were buoyed by a number of significant transactions, including: a $118.5 million refinancing for a portfolio of skilled nursing and assisted living facilities in New Jersey; a $60.6 million loan for the construction of Bainbridge Bethesda, a 200-unit market rate apartment project in Bethesda, Maryland; a $54.4 million refinancing for Parkview Towers, a 688-unit affordable apartment community in West New York, New Jersey; and a $31.9 million construction loan for NuVista Care at Wellington Green, a skilled nursing and assisted living facility in Wellington, Florida. Those interested can search the company’s revamped website for information on individual transactions.

2011-11-15T20:18:35+00:00 Love Funding News|