Seniors Housing Communities

Can HUD 223(f) Loans Be Used for Senior Housing Communities?

Can HUD 223(f) Loans Be Used for Senior Housing Communities?

If you're interested in acquiring or refinancing a senior housing community, can you use a HUD 223(f) loan to do so? Well, it depends. Senior, or age-restricted communities, are defined by HUD as any development intended for residents 62 years and older, and, while age-restricted communities are eligible for HUD 223(f) loans, some of them might be offering services that make them ineligible. Specifically, projects that are not eligible for HUD 223(f) financing include assisted living facilities, skilled nursing facilities, memory care facilities (including Alzheimer's/Dementia care facilities), and developments with communal dining areas.