PARTNERED RIGHT ®
Sims Mortgage Funding ended 2025 on a high note when it closed in December a Bridge-to-HUD transaction for RiverPointe Post-Acute, a 112-bed skilled nursing and rehabilitation facility in Carmichael, CA, a suburb of Sacramento. Affiliates of Links Healthcare Group LLC are the Project Owner and Operator. Links, a California-based owner and operator of skilled nursing homes, has approximately 42 communities totaling about 4,675 beds.
STRUCTURED RIGHT®
The Bridge component was a bank loan structured with A and B tranches and issued in August 2019 to finance the purchase of the Project. Forbright Bank held the A tranche; an affiliate of our parent company, HJ Sims, issued the B tranche.
SMF structured the deal so that the HUD-insured loan fully paid off the A/B tranches; it also reimbursed Links for $731,000 in equity they used to acquire the Project and $1,168,000 in capital improvements they made in 2024 – 2025.
EXECUTED RIGHT®
HUD approved the loan in 7 days, as the refinancing met their new Express Lane underwriting requirements.
FINANCED RIGHT®
The $13,210,600 loan has a 35-year amortization and is insured under the Section 232/223(f) program. The loan-to-value is approximately 50% and debt service coverage is 3.84.
