Baker Donelson is one of the few law firms in the nation with a niche national practice dedicated to assisting lenders and borrowers in HUD-insured loans. Baker Donelson attorneys have been counsel in over 200 HUD-insured loans for lenders and borrowers totaling more than $1 billion.
Baker Donelson has the experience that borrowers and MAP lenders require to navigate around the pitfalls and opportunities involved in HUD transactions, including HUD-insured financing transactions under Sections 223(f) for senior housing facilities and 232 of the National Housing Act for nursing home and assisted living facilities, transfers of physical assets of facilities with existing HUD financing, and acquisitions of HUD-foreclosed properties.
Our attorneys have developed relationships with HUD attorneys and staff in more than 25 HUD Hubs and field offices throughout the nation, having closed HUD loans on site in Los Angeles, Boston and many HUD offices in between. Baker Donelson has extensive experience representing non-profit and for-profit health care providers through the HUD process. We also have developed a network of experienced local counsel throughout the country to provide assistance in delivering opinions and counseling on issues relating to the laws of the jurisdiction in which the facility is located.
While our scope of work varies with each transaction, our work often includes the following:
- Assistance in structuring transactions
- Preparation of closing documentation
- Assistance in processing due diligence (including health care matters, environmental site assessment, property condition report, title insurance, land surveys, corporate and lien searches)
- Review of title and survey
- Negotiation of transaction issues
- Coordination of closings
- Delivery of opinions
- Post-closing follow through
The following transactions are a sample of our recent HUD-related experience:
- Extensive training under the LEAN program for HUD-insured loans for long term care facilities
- Borrower's counsel in portfolio of approximately 70 Section 232/223(f) HUD loans to various nursing home and assisted living operators in 24 states
- Lender's counsel in dozens of HUD loans under Section 223(f) of the National Housing Act
- Lender's counsel in the first HUD 223(f) refinancing transactions of Section 202 loans to occur in Virginia and Georgia
- Lender's counsel in multiple 232/223(f) HUD loans throughout the country
- Borrower's counsel in bridge-to-HUD financing portfolio involving 17 health care facilities in 8 states
- Borrower's counsel in HUD-insured low income apartment financing
- Borrower's counsel in numerous bridge-to-HUD loans with health care section of regional banks involving HUD takeout loan structure
- Prepared and presented materials at the Long Term Care Section meeting of the American Health Lawyers Association regarding the HUD 232 Program for financing of health care facilities.
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