Projects Howell Investment Finance Has Financed

Howell Investment Finance recently played a key role in the financing for Ames Ecumenical Housing, a non-profit organization in Ames, Iowa. Their two buildings, comprising of 110 units, were in need of significant upgrades. Utilizing a Freddie Mac LIHTC loan product, we also secured 4% tax credits from the Iowa Finance Authority (IFA).

This complex transaction involved not only refinancing the existing loan but also providing over $7 million in proceeds for essential improvements. These upgrades include new windows, doors, siding, HVAC systems, updated kitchens, flooring, and more. These improvements are aimed at enhancing living conditions for current residents and ensuring the properties' long-term viability.

Howell Investment Finance financed the completed Value-Added multifamily building with a HUD mortgage for the permanent financing. The Sponsor had completed an extensive renovation of a former school building and converted it into a quality multifamily building. Howell Investment Finance arranged the HUD mortgage which locked the interest rate for 35-year term, with a 35-year amortization to increase the property’s cash flow.

Howell Investment Finance refinanced this Senior Living Cooperative with a new HUD mortgage. This HUD mortgage paid off the construction loan to reduce the monthly mortgage payment, established the Reserve for Replacements and other needed escrow accounts all of which significantly lowered their monthly operating expenses. The HUD mortgage also funded several Cap Ex improvements for the members to enjoy.

Howell Investment Finance arranged a HUD loan on this Assisted and Independent Living facility. The HUD loan provided the Sponsor with loan proceeds to pay off the existing mortgage, plus additional Cap Ex dollars for much needed improvements to the facility. 

Howell Investment Finance arranged a HUD loan on this 42-bed Assisted and 60-bed Skilled Care facility. The HUD loan provided the Sponsor with loan proceeds to pay off the existing mortgage, plus additional Cap Ex dollars for much needed improvements to the facility. 

Howell Investment Finance refinanced this Assisted Living, Memory Care, and Skilled Care facility with a new HUD a7 mortgage that reduced the monthly mortgage payment, plus reduced the Reserve for Replacements which significantly lowered their monthly operating expenses.

Howell Investment Finance refinanced this Assisted Living and Memory Care facility with a HUD IRR (Internal Rate Reduction) loan. This simple HUD process reduced the interest rate of the original HUD mortgage (also financed by Howell Investment Finance). This IRR refinance reduced the monthly mortgage payment, which lowered their monthly operating expenses.

Howell Investment Finance had originally financed this Value-Added multifamily with a bridge loan. Once the Sponsor had completed the extensive improvements and stabilized the buildings, Howell Investment Finance arranged a Fannie Mae mortgage as permanent financing. This locked in the interest rate for 10-years with a 30-year amortization to increase the property’s cash flow.

Howell Investment Finance financed the historic renovation on this former office building into a multifamily property. The Sponsor gutted the building and completely renovated the building with all new features and improvements. To fund the renovations, Howell Investment Finance arranged a new mortgage on the building, plus obtained a bridge loan for the tax credits the Sponsor received on this multifamily property.

Howell Investment Finance arranged a bridge loan on this multifamily property with a lender during the early days of the COVID pandemic. The bridge loan was used to assist the Sponsor in stabilizing the new construction property.

Howell Investment Finance arranged a HUD construction loan. With this mortgage, the facility has a 40 year term and a 40 year amortization. It has 104 units with over 89,000 sq ft. It is the world's first WELL certified Assisted Living. The WELL concept focuses on seven healthy areas for better care of the residents and staff. 

Howell Investment Finance arranged this bridge loan to finance the purchase and extensive improvements. The improvements increased value and occupancy along with the NOI. 

Howell Investment Finance arranged a Freddie Mac Small Balance Loan with a 30 year amortization and a 10 year term plus dollars to fund improvements to increase the NOI. This property had several buildings in the complex of various configurations. 

Howell Investment Finance arranged a Freddie Mac Small Balance Loan with a 30 year amortization and a 10 year term plus dollars to fund improvements to increase the NOI. This property was built in 1922 as the age of a property was not a financing issue since the property was well maintained. 

Howell Investment Finance financed this memory care facility which was a referral from the Sponsors local bank. Their banker knew of Howell Investment Finance and that the Sponsor would benefit greatly with a HUD loan with the 35 year term and 35 year amortization plus renovation funds. This HUD loan has greatly increased the facility's NOI over the previous bank mortgage. 

Howell Investment Finance financed this assisted living facility 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.