Senior Living encompasses a wide range of property types. From Independent, Age-Restricted Apartments to Congregate Care, Assisted Living, Personal Care and Skilled Nursing Homes, Bellwether Enterprise has extensive experience in financing all types of Senior Living.
The Independent and Congregate Living products are typically underwritten as Multifamily Apartments, with financing provided by FHA-insured loans or Life Companies. The Independent product encompasses both market rate and subsidized properties, with subsidies often provided under the Low Income Housing Tax Credit (LIHTC) program. Congregate care provides a higher level of services, but is not licensed by the State and operates more like an apartment property.
Assisted Living/Personal Care and Skilled Nursing Homes can be financed under the FHA Office of Healthcare facilities, known as LEAN. These product types are licensed and regulated by the State and often receive some type of government reimbursement for the care they provide. Nursing homes receive third party reimbursement under Medicare and Medicaid, as well as some Assisted Living Facilities in States with Medical Assistance Waivers.
Bellwether Enterprise has the Multifamily experience and detailed knowledge of the healthcare products to finance all types of senior housing. We can provide construction and permanent financing using the HUD-Insured programs and acquisition/refinancing for existing properties with Life Insurance Companies, with amortizations ranging from 20-40 years, depending upon execution.