DBBM provides $14 million in FHA financing.
DBBM used FHA's 232(f) program for the loan, which allows for one-step processing under HUD's Multifamily Accelerated Processing (MAP) delivery system. FHA's 232(f) program provides loans for acquisition or refinance of health-care facilities such as assisted-living or skilled nursing homes. The loan was structured to be a 35-year self-amortizing, nonrecourse financing and was funded to 85 percent of value.
Cypress Meadows Assisted Living Facility provides services and apartments to assisted-living and Alzheimer's occupants. Amenities include laundry rooms, activity rooms, a beauty salon, outdoor patio, a nursing office and main and private dining rooms.
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|Title Annotation:||Commercial; DEUTSCHE BANK BERKSHIRE MORTGAGE; Federal Housing Administration|
|Article Type:||Brief Article|
|Date:||Feb 1, 2005|
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