It’s right there on our website, telling you who we are:
Sims Mortgage Funding, Inc. originates, underwrites, and funds loans for healthcare and housing projects. We focus primarily on financings insured through Federal Housing Administration (FHA) programs…
But there is more to SMF than that. Much more.
We have steadily and successfully expanded our activities to include financial advisory and consulting services, grounded in our deep knowledge of HUD’s programs and oriented to helping our clients and prospects analyze situations and solve problems beyond the scope of originating and underwriting a loan. Some of our recent extracurricular activities include:
For our largest client, a regional real estate development and management company:
- Their existing portfolio is subject to HUD’s 10-year formulaic revisit of capital needs, potentially increasing capital reserves and required repairs to infeasible levels.
- We helped negotiate a revised reserve requirement for one property and are assisting with several others whose inspections are coming due in 2024.
For a client of our parent company, a senior housing provider with a portfolio of affordable, age-restricted communities, we:
- Analyzed their affordable housing portfolio consisting of eight communities for recapitalization and revenue enhancement opportunities.
- Developed a plan to provide capital for the entire portfolio on the strength of a recapitalization of a single property which has significant upside.
- Expect to implement the plan in 2024 – 2025.
For an existing client, a faith-based organization for whom we have completed 10 HUD-insured financings:
- They are reevaluating their real estate holdings, including their affordable housing portfolio, consisting of approximately 15 communities.
- We provided high-level guidance on HUD matters related to potential sale of communities, assumption of debt, etc.
While originating and underwriting HUD-insured loans is the lifeblood of our business, acting as consultants and advisors helps us maintain and solidify our existing relationships, and forge new relationships that may lead to new business in the future. It does not have the same flair as if you build it they’ll come, but if we prioritize developing the relationships, the transactions will follow.
