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Word Around Town
HUD Publishes Two Mortgagee Letters: Creating a Middle Income Housing Option for 221(d)(4), and Multifamily Changes in Debt Service Coverage Ratios (DSCR) and Loan to Value/Loan to Cost Ratios (LTV/LTC). These changes will enhance financing flexibility for lenders and developers aiming to develop new affordable multifamily rental properties or refinance existing ones under the 221(d)(4) and 223(f) programs.
Multifamily Changes in Debt Service Coverage Ratios (DSCR) and Loan to Value/Loan to Cost Ratios (LTV/LTC) Mortgagee Letter.
Creating a Middle Income Housing Options for 221(d)(4) Mortgagee Letter.
HUD 223(f) loans are fully amortizing; Up to 35-year maximum loan term; Limited to the lesser of 35 years or 75% of estimated useful remaining life.
Hudson Highlights
Hudson Realty Capital's $800M Bridge-to-HUD Loan Program for Multifamily Projects
Hudson Realty Capital, a commercial real estate investment manager and FHA/HUD lender, has introduced an $800 million bridge-to-HUD loan program to support multifamily projects, including market-rate, affordable, and senior housing. The program, spanning the next 36 months, offers loans designed for property owners seeking permanent HUD financing but needing interim support to stabilize operations.
Key Program Features:
Loan sizes: $15 million to $50 million
Up to 80% loan-to-value (LTV) and loan-to-cost (LTC)
24–36 month loan terms
Fully pre-payable loans with no lockout period
The initiative aims to provide flexible and competitive financing options amidst cautious market conditions. Co-Managing Partner Rich Ortiz highlighted the program's ability to unlock capital and position owners for long-term financing, while Managing Director Paul Griffin emphasized its role in supporting growth in the multifamily sector.
Since its founding in 2003, Hudson Realty Capital has managed investments exceeding $4.5 billion across various property types, leveraging an integrated approach to loan origination, servicing, and asset management. The New York City-based firm is recognized for its adaptability and expertise in navigating shifting market dynamics.
Our Commitment
Hudson Realty Capital strives to combine a responsive, hands-on approach to investment with a unique ability to quickly adapt to shifts in the market. While we have a new and refreshed look, our top-level client service remains the same.
Check out our website and follow us on LinkedIn for our latest updates.
The Hudson Report and the news, information and observations stated herein are provided for informational and discussion purposes only and are not, and may not be relied on in any manner, as commitment or as legal, tax or investment advice. Hudson believes that the information provided herein is reliable but does not guarantee its accuracy or completeness and material aspects of information herein may change without notice. The interest rate indications set forth in The Hudson Report are estimates based on current market conditions. Final rates will be set at rate lock or at closing. The Hudson Report is not an offer or commitment to lend, and any such offer shall only be set forth in a signed, written commitment letter from Hudson. All transactions are contingent on satisfactory due diligence review and approval including evaluation of 3rd party reports, borrower credit, loan collateral and property, borrower and guarantor financials. Hudson is an Equal Opportunity Lender.
Hudson Realty Capital LLC, 570 Lexington Avenue, 22nd Floor, New York, NY
