ZFC Closes Over $ 93M of FHA-insured Loans in 2011
Chicago, IL (PRWEB) February 16, 2012 Ziegler Financing Corporation (ZFC), the FHA-insured mortgage lending arm of Ziegler, has posted one of its strongest years of the decade thanks, in large part, to a renewed focus on FHA business and the increased volume in HUD mortgage lending activity nationwide.
In 2011, ZFC closed over $ 93 million (par amount) of FHA-insured loans. ZFC refinanced existing skilled nursing facilities and assisted living properties in seven states: California, Delaware, Indiana, Pennsylvania, Kentucky, Washington, and Wisconsin. ZFC’s pipeline for 2012 continues to be very robust.
FHA-insured fixed-rate financing is available for licensed senior care facilities using HUD’s Multi-Family Lending Program. The program generally provides up to 80-85% loan-to-value and longer loan maturities, often 35 to 40 years. In the last few months, lenders have secured fixed rates, below 4%, with similar terms.
“FHA remains a critical source of mortgage financing and stability for the skilled nursing and senior housing sectors,” said Bill Mulligan, President of ZFC and Managing Director of Ziegler’s Corporate Finance team. “With fresh cuts in Medicare reimbursement and significant under-funding from Medicaid, nursing facilities already operating on ‘razor-thin’ operating margins have been fortunate to look to the financial markets for some relief.” For those borrowers that meet HUD’s guidelines, that relief comes in the form of historically low fix-rate, non-recourse FHA-insured debt.
ZFC tailors financial products for not-for-profit, for-profit and government clients across the country. ZFC offers a broad product mix, including mortgage loans insured by the Federal Housing Administration for the acquisition, refinancing and mortgage add-ons of nursing homes, assisted living facilities, hospitals, and apartments. FHA financing programs for healthcare and multifamily housing are attractive financing alternatives for corporate sponsors, as well as large and small not-for-profit operators.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
About Ziegler:
The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler [...] Continue Reading…