Since April 2022, Bravo Capital has received 26 HUD firm commitments, and all 26 have closed, for $526.0 million in closed loans. That is 19 of 19 on HUD 223(f) apartment loans and 7 of 7 on Section 232/223(f) healthcare loans, as of November 2, 2026.
Record by year
| Year of firm commitment | Firm commitments | Closed | Closing rate | Closed loan amount |
|---|---|---|---|---|
| 2022 | 4 | 4 | 100% | $30.6 million |
| 2024 | 9 | 9 | 100% | $217.1 million |
| 2025 | 9 | 9 | 100% | $201.5 million |
| 2026 (through Nov. 2) | 4 | 4 | 100% | $76.8 million |
| All years | 26 | 26 | 100% | $526.0 million |
Record by program
| Program | Year | Firm commitments | Closed | Closing rate | Closed loan amount |
|---|---|---|---|---|---|
| HUD 223(f) apartments | 2022 | 4 | 4 | 100% | $30.6 million |
| HUD 223(f) apartments | 2024 | 8 | 8 | 100% | $214.0 million |
| HUD 223(f) apartments | 2025 | 5 | 5 | 100% | $110.8 million |
| HUD 223(f) apartments | 2026 (through Nov. 2) | 2 | 2 | 100% | $24.2 million |
| HUD 223(f) apartments, all years | 19 | 19 | 100% | $379.6 million | |
| Section 232/223(f) healthcare | 2024 | 1 | 1 | 100% | $3.1 million |
| Section 232/223(f) healthcare | 2025 | 4 | 4 | 100% | $90.7 million |
| Section 232/223(f) healthcare | 2026 (through Nov. 2) | 2 | 2 | 100% | $52.6 million |
| Section 232/223(f) healthcare, all years | 7 | 7 | 100% | $146.4 million |
Every commitment in the record
| Property | Location | Program | Firm commitment | Closed | Closed loan amount |
|---|---|---|---|---|---|
| Cedar Heights | Stratford, CT | 223(f) | 4/29/2022 | 6/28/2022 | $7,900,200 |
| Hidden Valley Village | Bloomfield, NM | 223(f) | 6/2/2022 | 8/11/2022 | $2,292,800 |
| 1533 East 19th Street | Brooklyn, NY | 223(f) | 8/8/2022 | 10/27/2022 | $16,090,400 |
| 595 New York Ave | Brooklyn, NY | 223(f) | 8/31/2022 | 3/28/2023 | $4,332,500 |
| Meadowthorpe Assisted Living and Memory Care | Lexington, KY | 232/223(f) | 1/4/2024 | 2/29/2024 | $3,127,100 |
| AMBLE | Philadelphia, PA | 223(f) | 1/8/2024 | 2/23/2024 | $14,108,900 |
| Parkside Manor | Jamaica, NY | 223(f) | 2/9/2024 | 4/8/2024 | $29,677,100 |
| Residences at Rodney Square | Wilmington, DE | 223(f) | 3/18/2024 | 9/12/2024 | $44,241,000 |
| The Ithacan | Ithaca, NY | 223(f) | 4/5/2024 | 5/30/2024 | $57,804,600 |
| The Grove at Killeen | Killeen, TX | 223(f) | 5/28/2024 | 7/2/2024 | $14,604,300 |
| Encore 275 | Meriden, CT | 223(f) | 7/12/2024 | 9/19/2024 | $14,868,500 |
| Merchant Apartments | Springdale, OH | 223(f) | 10/4/2024 | 3/13/2025 | $18,642,300 |
| Merchant Townhomes | Springdale, OH | 223(f) | 10/16/2024 | 3/13/2025 | $20,053,300 |
| 4575 Monica | Los Angeles, CA | 223(f) | 2/19/2025 | 7/28/2025 | $4,741,900 |
| 1620 New York | Brooklyn, NY | 223(f) | 6/16/2025 | 1/13/2026 | $20,967,000 |
| Skyview Apartments | Killeen, TX | 223(f) | 8/28/2025 | 10/23/2025 | $13,100,000 |
| Cathedral Arms | San Diego, CA | 223(f) | 9/11/2025 | 11/25/2025 | $49,434,500 |
| Glenville Health and Rehabilitation | Glenville, WV | 232/223(f) | 9/30/2025 | 2/19/2026 | $20,720,000 |
| Lawrenceville Health and Rehabilitation | Lawrenceville, VA | 232/223(f) | 9/30/2025 | 3/10/2026 | $12,154,900 |
| Blue Ridge Therapy Connection | Stuart, VA | 232/223(f) | 11/26/2025 | 3/10/2026 | $41,650,000 |
| The Fifty | Long Island City, NY | 223(f) | 12/19/2025 | 3/12/2026 | $22,560,000 |
| Tygart Valley Health and Rehabilitation | Belington, WV | 232/223(f) | 12/30/2025 | 5/6/2026 | $16,160,000 |
| The Grosvenor | Kew Gardens, NY | 223(f) | 1/30/2026 | 7/23/2026 | $19,600,000 |
| Wyndhurst Health and Rehabilitation | Lynchburg, VA | 232/223(f) | 4/10/2026 | 7/28/2026 | $34,160,000 |
| Winchester Health and Rehabilitation | Winchester, VA | 232/223(f) | 6/17/2026 | 10/19/2026 | $18,400,000 |
| Wyn 5 | Miami, FL | 223(f) | 6/25/2026 | 9/16/2026 | $4,594,800 |
Method
- Sources. HUD 223(f) apartment loans: HUD's FHA Multifamily Firm Commitment and Initial Endorsement database (fiscal year 2001 through the fourth quarter of fiscal year 2026, data run October 8, 2026), lender Bravo Capital LLC. Section 232/223(f) healthcare loans, which that database does not cover: HUD's FHA Multifamily and Healthcare database extract of September 2024 for Meadowthorpe, and Bravo's own closing records (monthly closing reports and closed-loan trackers) for the rest.
- Period. April 29, 2022 (Bravo's first HUD firm commitment) through November 2, 2026. The most recent commitment counted was issued June 25, 2026.
- What counts as a commitment. A HUD firm commitment issued to Bravo Capital as lender on a new FHA project number. Amendments, extensions and reissued commitments on the same loan are not counted again. Applications that never received a firm commitment are not counted.
- What counts as a close. HUD endorsement of the insured loan at closing. Closed loan amount is the endorsed amount.
- Year. Each loan is counted in the calendar year its firm commitment was issued, even if it closed the next year.
- Closing rate. Closed loans divided by firm commitments.
- Not included. Bridge, construction and other loans made by Bravo's affiliate, Bravo Property Trust, and HUD loans team members closed at prior firms.
- Updates. Updated quarterly. Data as of November 2, 2026.
Program guides: HUD 223(f), HUD 232/223(f), HUD 223(a)(7), HUD loan FAQ.
About the author
Aaron Krawitz is the founder and CEO of Bravo Capital, a HUD-approved MAP and LEAN lender in New York City. He founded Bravo in 2021 after serving as president of Dwight Capital. Bravo and its affiliate, Bravo Property Trust, have closed more than $2.5 billion in financing, and Bravo closed every HUD firm commitment it received in 2025.
