PROJECT OVERVIEW

  • The original Construction consisted of two separate loans, a 232 New Contruction loan and a 241a. In 2013, Centennial was able to combine the loans under one 232/223(a)(7) loan totaling $7,185,800.
  • The refinance allowed the borrower to reduce their total payment by $17,108.55/month totaling $205,302.60 per year. This reduced HUD’s risk while providing the client with a greater cash flow.
  • Manor House consists of 81 Units featuring 60 ALF beds, 11 Memory Care beds, and 16 Independ living units.
  • Project Name Manor House at Waterford
  • Project Location Refinance
  • Loan Amount Matthew Kane
  • Originator Goshen, IN