Senior Housing
Finance Companies...
Rainmaker
Marketing Corporation is a senior housing due diligence consulting firm that works directly
with a wide variety of senior housing finance companies to obtain
non-recourse
construction mortgage financing loans without having to rely upon a
HUD-insured loan program. It's the structure of the funding that
allows Rainmaker Marketing Corporation to negotiate with the lender for both the non-recourse
requirement and cross-collateralization
which developers frequently believe to be a requirement for commercial
lenders.
The fact
of the matter is that most commercial lenders are pre-programmed to say
"no" to everything, but as is the case in many areas of the
economy, negotiation is the key. For every lender there is a level
of borrowing the lender will support on a non-recourse basis, but this
requires much higher levels of equity capitalization. The obvious
problem is that, on average, most developers come to the table with
insufficient equity capital to close any loan (whether the loan is
non-recourse or not). This means the developer's first stop in the
money hunt is not with a prospective lender; the first stop is the place
where the developer can acquire more equity financing and that makes
most people view the deal and developer as a pariah that doesn't have
the gas to support a senior housing financing (mortgage loan) of any
size.
Wouldn't
it be nice if there was a way to create a structured financing that
provided all the at-risk equity capitalization the developer needed
before he south out a senior housing finance company for a loan?
Rainmaker
Marketing Corporation has an affiliate that focuses on raising equity capital via the
tenants-in-common fractional real estate ownership syndication approach.
Discussion
continued on the
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