RXR and Hudson Realty Capital have launched a new $250-million bridge-to-HUD loan program for the acquisition and refinancing of multifamily and healthcare assets. The program is designed to provide borrowers with near-term capital certainty while establishing a defined pathway to long-term HUD-insured permanent financing.
During the bridge term, borrowers have the ability to pursue FHA/HUD financing with Hudson Realty Capital, allowing for a more streamlined transition to permanent debt execution. Loans are subject to a minimum six-month lockout period, after which they may be prepaid without penalty.
The program launches as owners and operators are facing elevated borrowing costs, constrained bank lending, and mounting refinancing pressure as a significant volume of commercial real estate debt approaches maturity. “This program is positioned to provide borrowers with flexible transitional capital and a clear path to long-term HUD-insured financing in an increasingly difficult interest rate environment,” said Rich Ortiz, co-managing partner at Hudson Realty Capital.
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