Assisted Living and Memory Care in Cedar Rapids, IA

This existing facility was financed with a HUD 232 loan. 

With this financing, the Sponsors received a 35 year term and a 35 year amortization plus funds for improvements to the facility which increased the NOI. 

This memory care facility was a referral from the Sponsors local bank that knew their client would benefit greatly with a HUD 232 loan with the 35 year term and 35 year amortization plus renovation funds. 

This HUD 232 loan has greatly increased the facility's NOI over the previous bank mortgage.