Bravo Capital closed a $18,400,000 HUD Section 232/223(f) loan for Winchester Health and Rehabilitation, a skilled nursing facility in Winchester, Virginia, on October 19, 2026. HUD issued the firm commitment on June 17, 2026, with Bravo Capital as the HUD-approved lender.
Deal at a glance
| Property | Winchester Health and Rehabilitation |
|---|---|
| Location | Winchester, Virginia |
| Property type | Skilled nursing facility |
| Program | HUD Section 232/223(f) |
| Loan amount | $18,400,000 |
| Firm commitment | June 17, 2026 |
| Closed | October 19, 2026 |
| 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. See every deal on the HUD Closing Scorecard.
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.
