Assisted Living Facility
Loans (ALF Loans)

Delivering customized bridge and permanent loan solutions for Assisted Living Facilities

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Financing Assisted Living Facilities (ALFs)

For the past 15 years, Wilshire Finance Partners has specialized in financing owners and operators in seniors housing, specifically those who own or operate, or desire to own and operate, assisted living or memory care facilities, with capital ranging from $1 million to $10 million nationwide.  

As a direct lender with comprehensive financing options, Wilshire offers tailored solutions for owners, operators, and investors focused on seniors housing and assisted living facilities (ALFs). If you are looking for an ALF loan to finance the acquisition of a facility or a mini pool of facilities, fund renovations to enhance care levels, or refinance an existing assisted living memory care facility, Wilshire’s entrepreneurial approach and sage advice can help fund your path forward.

A short-term bridge loan, or interim financing, can be a smart resource for assisted living owners and operators keen on meeting business objectives while bridging the gap to stabilization. Traditional lenders (agencies or banks) can be wary of seniors housing investments, particularly because the business model is complex and nuanced—an area they don’t specialize in. Most traditional lenders want to see a facility already at stabilization before they are willing to underwrite an assisted living facility loan, whereas bridge lenders are more flexible, helping borrowers gain the time they need to strategically reach stabilization. Although that time and flexibility does result in higher interest rates, seniors housing owners and operators can ensure their project stays on time and on track with Wilshire’s fast and flexible bridge loan financing.

How To Use an Assisted Living or Memory Care Facility Bridge Loan:

  • Purchase/Acquisition of an assisted living or memory care facility
  • Purchase of a mini pool of assisted living or memory care facilities
  • Rate and Term Refinance
  • Cash-Out Refinance
  • Acuity/Care Level Repositioning
  • Refresh and Renovations

As older adults age, assisted living facilities provide valuable services for individuals who require assistance with everyday tasks, also known as activities of daily living (ADLs). This ranges from help with bathing and dressing to preparing meals and medication reminders. While assisted living programs vary, and some facilities also offer memory care services or dedicated memory care wings, those services do not include nursing care. Each facility is unique in its approach to helping seniors enjoy as much independence as possible, while ensuring their needs for connection, autonomy, and dignity are respected.

Wilshire understands that every seniors housing facility is unique, as are each borrower’s circumstances, and provides equally unique financing solutions tailored and customized to the borrower.

Contact us today for a personalized assisted living facility loan quote.

Assisted Living Bridge Financing Structure Types

Assisted Living (with or without Memory Care)

Loan Amount: $1,000,000 to $10,000,000

Term: Up to 5 Years

Rate: Fixed or Variable

Loan-To-Cost (LTC): Up to 70%

Loan-To-Value "Stabilized" (SLTV): Up to 65%

Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance

Geographic Location: Nationwide

Recourse: Case by Case

Assisted Living (with or without Memory Care)

Loan Amount: $500,000 to $3,000,000

Term: Up to 3 Years

Rate: Fixed

Loan-To-Cost (LTC): Up to 80%

Loan-To-Value "Stabilized" (SLTV): Up to 65%

Purpose: Purchase, Rate and Term Refinance

Geographic Location: Nationwide

Recourse: Required

Assisted Living (with or without Memory Care)

Loan Amount: $500,000 to $3,000,000

Term: Up to 3 Years

Rate: Fixed

Loan-To-Cost (LTC): Up to 85%

Loan-To-Value "Stabilized" (SLTV): Up to 65%

Purpose: Purchase, Rate and Term Refinance

Geographic Location: Nationwide

Recourse: Required

Assisted Living (with or without Memory Care)

Loan Amount: $1,000,000 to $10,000,000

Term: Up to 5 Years

Rate: Fixed or Variable

Loan-To-Cost (LTC): Up to 70%

Loan-To-Value "Stabilized" (SLTV): Up to 65%

Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance

Geographic Location: Nationwide

Recourse: Case by Case

LOAN GUIDELINES

Agency Financing Structure

Loan Amount: Minimum of $5,000,000, with exceptions on a case-by-case basis

Loan-To-Value: 75% (80% for fixed rate tax-exempt bonds)

Rate Structure: Fixed and adjustable rate options available

Term: 5 to 10 years (up to 30 years for fixed-rate loans)

Amortization: Up to 30 years

Recourse: Non-recourse with standard exceptions, including for fraud and misrepresentation

Prepayment Penalty / Lockout: 

Fixed Rate: Yield Maintenance or Standard Defeasance Graduated Prepayment Premium

Floating Rate:12-month lockout followed by 1% prepayment penalty to open window

Loan Amount: Minimum of $5,000,000, with exceptions on a case-by-case basis

Loan-To-Value: Maximum 75% of appraised value, maximum of 80% for tax-exempt bond finance transactions.

Rate Structure: Fixed and adjustable rate options available

Term: 5 to 10 years (up to 30 years for fixed-rate loans)

Amortization: Up to 30 years

Recourse: Non-recourse with standard exceptions, including for fraud and misrepresentation.

Prepayment Penalty / Lockout: 

Yield Maintenance or Standard Defeasance (Fixed Rate)

Floating Rate: 12-month lockout followed by 1% prepayment penalty to open window Four prepayment option for floating rate loans

Loan Amount: $1,000,000 To $50,000,000

Rate Structure: Fixed and adjustable rate options available

Term: Up to 35 Years

Amortization: Up to 30 years

Recourse: Non-recourse with standard exceptions, including for fraud and misrepresentation.

Prepayment Penalty / Lockout: Standard option is declining prepayment penalty through year 10 and then freely pre-payable thereafter. Flexibility on prepayment structure exists.

Loan Amount / Loan-To-Value: Up to 75% for Purchase / 70% on Refi

Rate Structure: 250-350 bps over index

Term: 5, 7, 10 yr. fixed / 20 yr. fix to float also available

Amortization: 25-30 yrs. and IO also available

Recourse: Non-recourse with standard exceptions, including for fraud and misrepresentation.

Prepayment Penalty / Lockout: Step down: 5,4,3,2,1

Loan Amount / Loan-To-Value: Up to 70% higher on exception basis on purchase / 65% on Refi

Rate Structure: 300-350 bps over index

Term: 10 Yr. fixed 5, 7 and 15 yrs. w/ balloon or 20 & 30 yr. self amortizing

Amortization: 25-30 yrs. and IO also available on exception basis

Recourse: Non-recourse with standard exceptions, including for fraud and misrepresentation.

Prepayment Penalty / Lockout: Yield Maintenance, Step Down or Standard Defeasance

LOAN GUIDELINES
Frequently Asked Questions

Wilshire offers bridge and permanent loan solutions for the purchase and refinance of assisted living facility properties. 

Yes, Wilshire offers customized bridge and permanent financing for assisted living facility properties.

Yes, Wilshire works directly with all intermediates and ensures broker protection. 

Wilshire can close a loan in 15 to 45 days. 

Yes, Wilshire is a direct lender. The WFP Income Fund, LLC and The WFP Opportunity Fund, LLC are real estate debt funds and are the capital engine driving Wilshire’s bridge loan program.

Formed in 2008, Wilshire Finance Partners is a real estate debt fund manager that makes bridge loans secured by multifamily, commercial real estate, seniors housing facilities, and medical office buildings nationwide. Wilshire combines an entrepreneurial approach, institutional sophistication, and discretionary capital inside a boutique environment to deliver outstanding service to our origination partners and affiliates.

Proven

Real estate debt funds with discretionary capital to lend.

Professional

Experienced professionals representing various disciplines in real estate, banking and investments.

Performance

The team has funded and managed over $2 billion in commercial real estate loans.

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LEARN MORE

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info@WilshireFP.com

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Irvine, CA 92618

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TERMS OF USE | DISCLOSURES | PRIVACY POLICIES

© 2008-2023 Wilshire Finance Partners, Inc. All Rights Reserved.

DISCLOSURES: 

Loans: The information contained on this website and the related communications are directed to real estate professionals only.  The information contained on this website and the related communications are not a loan approval, agreement or commitment to lend. The delivery or circulation of any attached documents is for discussion purposes only and Wilshire Finance Partners, Inc. may make substantial and material revisions to the same.  Rates and terms are subject to change without notice.  Loans made by Wilshire Finance Partners, Inc. California Department of Real Estate Broker License number 01523207 and California Department of Financial Protection and Innovation, Finance Lenders License number 603K729; WFP Income Fund, LLC, California Department of Financial Protection and Innovation, Finance Lenders License number 603K726; WFP Opportunity Fund, LLC California Department of Financial Protection and Innovation, Finance Lenders License number 603K725; or WFP Income Fund REIT, LLC, California Department of Financial Protection and Innovation Finance License number 60DBO-99184. •Equal Opportunity Housing Lender•

Investments: The information contained on this website and the related communications are not an offer to sell or the solicitation of offers to purchase the securities of the WFP Income Fund, LLC, the WFP Income Fund REIT, LLC, the WFP Opportunity Fund, LLC, loan or trust deed investments, participations or other securities offered by or through Wilshire Finance Partners, Inc. (individually and collectively, the “Securities”).  The purpose of this website and the related communications is to provide an overview of the respective Securities and their private placement. Persons interested in learning about the Securities and their private placement will be provided with the respective Private Placement Memorandum (inclusive of exhibits thereto and any supplements, the “Memorandum”), which provides a description of the Securities, the terms of their private placement, a discussion of risk factors, a copy of the limited liability company operating agreement for the respective fund (as applicable), a subscription agreement and other information related to the Securities.

This website and the related communications contain certain forward-looking statements regarding the Securities and the investment objectives and strategies of each of the Funds. The forward-looking statements are based on current expectations that involve numerous risks and uncertainties which are difficult or impossible to predict accurately and many of which are beyond the control of Wilshire, as the manager of the Funds. Although Wilshire believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements, the inclusion of such information should not be regarded as a representation by Wilshire, any placement agent, or any other person, that the objectives and strategies of the respective Securities will be achieved.

Investments in the Securities may only be made solely by accredited investors (which for natural persons, are investors who meet certain minimum annual income or net worth threshold), who are provided with the Memorandum and who complete, execute and deliver the subscription documents included therein, and otherwise comply with the requirements contained therein.  Each of the Securities is being offered in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) and are not required to comply with specific disclosure requirements that apply to registration under the Securities Act. Neither the Securities Exchange Commission nor any other state securities commission or agency has passed upon the merits of or given its approval to the Securities, the terms of the offering, or the accuracy or completeness of any offering materials. Each of the Securities is subject to legal restrictions on transfer and resale and investors should not assume they will be able to resell the Securities. Past performance is not indicative of future results. Investing in any of the Securities, including the Funds, involves substantial risk, including loss of investment, and is not suitable for all investors.

To the extent there is any inconsistency between the information provided in this website. The related communications and the Memorandum, the information contained in the Memorandum shall control.

Other Notices: Information provided by Wilshire Finance Partners, Inc., its affiliates and their respective directors, managers, officers, employees and agents is not to be interpreted as legal, tax or accounting advice.  Wilshire Finance Partners, Inc. is a debt collector and is required by law to inform you that this communication may be an attempt to collect a debt and any information obtained will be used for that purpose.  Wilshire Finance Partners®, Proven Professional Performance®, Stable Income & Principal Protection®, and The Alternative Solution® are registered trademarks of Wilshire Finance Partners, Inc. © 2021 Wilshire Finance Partners, Inc.  All rights reserved.

 

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