Bravo Capital closed a $3,127,100 HUD Section 232/223(f) loan for Meadowthorpe Assisted Living and Memory Care, an assisted living and memory care facility in Lexington, Kentucky, on February 29, 2024. HUD issued the firm commitment on January 4, 2024, with Bravo Capital as the HUD-approved lender.
Deal at a glance
| Property | Meadowthorpe Assisted Living and Memory Care |
|---|---|
| Location | Lexington, Kentucky |
| Property type | Assisted living and memory care facility |
| Program | HUD Section 232/223(f) |
| Loan amount | $3,127,100 |
| Firm commitment | January 4, 2024 |
| Closed | February 29, 2024 |
| Lender | Bravo Capital (HUD MAP and LEAN lender) |
About the HUD Section 232/223(f) program
A HUD Section 232 loan is an FHA-insured, non-recourse mortgage for skilled nursing, assisted living, memory care and board-and-care facilities. Section 232/223(f) buys or refinances an existing facility with a fixed rate for up to 35 years at up to 80% of value for for-profit owners and 85% for nonprofits.
Read Bravo’s HUD Section 232 guide
Bravo’s HUD record
Since April 2022, Bravo Capital has received 26 HUD firm commitments, and all 26 have closed, for $526.0 million in closed loans.
Talk to an underwriter HUD Section 232/223(f) terms
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.
