Senior living
Senior living financing
Senior living financing is commercial real estate debt for licensed assisted living, residential care (RCFE), memory care and skilled nursing facilities. Lenders underwrite the building and the operating business, so license standing, census and the operator's record weigh as heavily as the real estate.
Programs we arrange
- HUD Section 232FHA-insured, long-term, non-recourse debt for licensed healthcare real estate.
- HUD 232/223(f) refinanceRefinance or acquire an existing, stabilized senior housing facility with HUD-insured fixed-rate debt.
- Bridge-to-HUDShort-term floating debt to stabilize a facility before a HUD 232/223(f) takeout.
- Assisted livingCompare HUD, SBA, bank and bridge options for assisted living communities.
- California RCFEFinancing a California residential care facility for the elderly under Title 22.
- Memory careLoans for memory care and dementia care communities.
- Skilled nursingHUD 232, bridge and bank options for skilled nursing facilities.
How to choose a path
Size, seasoning and ownership decide the program. HUD 232 gives the longest fixed term and non-recourse structure at 80% LTV and 1.45x DSCR, but its fixed costs favor balances above roughly $3.5M. SBA 504 serves owner-operators on smaller balances. Bridge loans carry properties that are not yet stabilized.
- Stabilized and larger: HUD 232/223(f)
- Owner-operated and smaller: SBA 504 or 7(a)
- Transitional or on a short clock: bridge-to-HUD
- Ground-up or conversion: construction or conversion bridge, then permanent debt
What every lender wants to see
Licenses and survey history, trailing operating statements with census and rate roll, payer mix, the property and operating structure, and operator experience. A complete file shortens every timeline, though timelines are not guaranteed.
Frequently asked questions
What is the best loan for assisted living?
It depends on size, stabilization and ownership. HUD 232/223(f) fits larger stabilized communities, SBA 504 fits owner-operators, and bridge loans fit transitional properties.
Is Corin the lender on senior living loans?
Corin Commercial is a real estate broker, not a lender. Lenders make all credit decisions and fund loans as lender of record. Corin never holds, transfers, or disburses loan funds and does not service loans.
Related financing
- Hotel to senior living conversionAcquisition and conversion bridge for turning a hotel into licensed senior living.
- Hotel financingSBA, CMBS and bridge options for hotel owners and buyers.
- Multifamily financingHUD, agency, bridge and DSCR options for apartment owners.
- Construction financingBank, debt fund, HUD and C-PACE options for construction projects.
Talk through your deal with an advisor
Send the basics and a licensed Corin advisor reviews which programs and lenders may fit, or size the loan yourself first.