Senior Housing Loan Program City Capital Finance arranges Senior Housing loans for acquisitions and refinancing senior housing properties that provide independent living, assisted living with or without Alzheimer care throughout California. We have relationships with several financial institutions and Federal Agency capital providers to secure customized senior housing loans with the most competitive terms and rates to meet the individual needs and requirements of our clients. Senior Housing Multifamily Loan-Highlights City Capital Finance arranges Federal Agency/Fannie Mae Loans for senior housing properties including Independent Living/Congregate Care, assisted living facilities and/or assisted living with Alzheimer care in California. Senior housing properties are built to specifically meet the needs of seniors and must be fully equipped with sprinkler systems. Owners and operators must have minimum of 5 years operating experience in senior housing industry. Pooled transactions for seasoned senior housing properties with experienced owners and operators are eligible at fixed or floating rates. City Capital Finance arranges credit enhancement for existing variable or fixed rate tax exempt bonds issued to non profits and owners of affordable senior housing properties. Loans from $1,000,000 and up Up to 75% loan to value 80% Loan to Value for Tax Exempt bond financed projects Non recourse with standard exceptions for frauds and misrepresentation 5, to 30 year term Up to 30 year amortization Fixed and adjustable rate options Loans are assumable subject to approval Yield Maintenance pre-payment or graduated pre-payment provision Tiered pricing matrix based on Debt Service and loan to value Minimum Debt Service Coverage 10 year term or greater 1.30 for 100% independent living properties 1.40 for properties where independent living units compose 50% or more of the unit mix Less than 10 year term 1.35 for 100% independent living properties 1.45 for properties where independent living units compose 50% or more of the unit mix Minimum Occupancy Requirement 90% sustained occupancy for past 12 months for Independent Living facilities prior to funding 90% sustained occupancy for past 15 months for Alzheimer care facilities prior to funding. Minimum Vacancy and Collection Loss 5% for independent living properties 7% for Alzheimer care properties with more than 60 units 10% for Alzheimer care properties with 60 units or less