Cash Flow Lending Program | Revolving Line of Credit Program | Fixed Rate Debt Program
Floating Rate Debt Program | Short Term Structured Loans
Floating Rate Debt Program (Nursing) | Bond Enhancement/Letter of Credit Program

Senior Living Investment Group
Fixed Rate Debt Program

Overview
Target Opportunities: Existing properties with stabilized operations
Property Types: Congregate Care, Assisted Living and Alzheimer's
Targeted Operator: Experienced operators with stabilized properties
 
General Terms
Size: $4 - $15 million per project
Advance Rate: 75% of appraised value
Borrower: Single purpose entity
Collateral: First priority lien on the real estate and assignment of licenses
Term: 5-15 years
Interest: Competitive market spreads over base treasury rates
Amortization: 25 or 30 year schedule depending on property age, type and condition
Prepayment: Defeasance
Closing Costs: Fixed fee schedule
Recourse: Non-recourse with standard carve-outs for environmental, waste, and fraud
 
Advantages

Industry Expertise: Heller's experienced professionals know the senior living business and the underwriting requirements of the rating agencies. Heller uses its industry knowledge to accurately size and price the loans so that there is no variation from the initial quote.

Responsiveness: Heller is dedicated to serving the client and the Express program has the infrastructure to process loans and meet closing deadlines. Heller can close a transaction in 30 to 45 days from signing a term sheet.

Track Record: Heller originated and closed over $175,000,000 in senior housing loans in 1998. Heller has been active in the conduit business in 1994 and remains one of the largest securitizers of fixed rate loans in the country.



For more information about Heller Financial, visit Heller Financial's website at http://www.hellerfinancial.com/


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