Parent context is Arizona seniors housing. That hub separates independent apartments from licensed care. This page is only the assisted living case: a building where residents receive care, an operator runs the business, and a license has to be real. Investor-owned commercial real estate is still the collateral. A mortgage on a house a family lives in is not. City notes, when the building is in those cities, are Phoenix seniors housing and Scottsdale seniors housing. They do not replace the statewide license question.
The Arizona Department of Health Services licenses residential facilities. Its residential-facilities page points operators to the department's licensing system for applications and renewals. A lender treats a current license as part of the collateral story. An expired license, a license in someone else's name, or a building that is operating without the license the use requires is an open item. This page is not a license, not a survey, and not legal advice about whether a particular home or center qualifies. Counsel and the department decide that. We need the paper.
Operator quality is the other half. Census, staffing, and the record of inspections tell a lender whether the business can pay rent or debt service. We do not score operators, and we do not publish a ranking. Send the trailing occupancy, the management agreement, and any survey findings you already have. Hiding a finding does not make it smaller. If the operator and the real estate owner are different parties, say who pays whom.
HUD 232 is made by a HUD-approved lender
HUD's healthcare pages describe mortgage insurance programs for residential care. The program this desk pairs with assisted living, when the asset and the calendar fit, is HUD 232. A HUD-approved lender makes that loan. Capital Market Funds does not claim MAP or LEAN approval. We arrange the file and place it with a lender who has the approval. We do not become that lender.
The HUD clock is long. A bridge loan can hold the property while 232 is in process, if a bridge lender will fund it and the takeout really is a HUD-approved lender's 232 loan. The bridge does not turn into 232 by the passage of time. Bridge capital is sourced from private investors, not from this firm's balance sheet. Read Arizona bridge for that short loan. A bank permanent loan, when the sponsor will not wait on HUD, is Arizona permanent financing only if a permanent lender will hold a care facility. Many will not. Ask before you assume.
What does not belong on this page
Independent living that is conventional apartments may be Fannie Mae, Freddie Mac, or HUD 223(f), arranged with the lender who executes that program. That is the parent page's split, not a second assisted living product. Capital Market Funds is not a Fannie Mae DUS lender. Memory care and skilled nursing are also licensed care, and they are not automatically the same term sheet as assisted living. Say which license you hold.
No assisted living closing is published. Apartment tombstones stay on the apartment pages. Craig Hoebing arranges the request from Scottsdale under CMB-1047342 and NMLS 1445066. A form is not an application and not a commitment.
Papers an assisted living lender asks for first
Current ADHS license
The license should match the operator and the address. A screenshot of a logo is not a license.
Census and staffing
Trailing occupancy and who provides the care. A pro forma with no history is a different loan.
Survey record
Findings you already have, including ones that are still open. This is not a ranking.
Takeout, if the loan is short
Name the HUD-approved lender's 232 path or the bank path. A bridge with no takeout is incomplete.
Capital for a licensed assisted living community
| Source | When it fits |
|---|---|
| HUD 232 | Residential care with a HUD-approved lender, when the process fits. Not a MAP or LEAN claim. |
| Bank | A bank loan on a licensed community the bank will hold when the sponsor will not wait on HUD. |
| Bridge & Private | Short capital while a HUD 232 takeout is actually in process with a HUD-approved lender. |