NAS has successfully delivered a lending source to investors in Paramount House, a senior assisted living property in Vacaville, CA.
NAS executives successfully secured Housing and Urban Development (HUD) financing with favorable rates on behalf of the property’s ownership. The HUD financing was the latest positive result in a two-year, multi-phase plan that included strategic marketing efforts to increase occupancy and optimize operating expenses, while providing superior resident services. These efforts enabled investors to secure a bridge loan to satisfy loan maturity requirements in 2017. The infusion of capital from HUD now enables NAS executives and property investors to focus on long term property and investment strategies.
“Despite challenging circumstances, we were pleased to forge a pathway on which our clients could continue as investors in the property,” commented Karen E. Kennedy, President and Founder of National Asset Services. “We have a strong reputation for developing strategies that maximize favorable outcomes for investors.”
Built in 2004, Paramount House Senior Living is a one-story, 56,700 square-foot facility that provides assisted living and memory care services for up to 87 residents. NAS has been the asset management company for the property since 2014.