-

Forbright Bank Provides $44 Million in HUD Financing for a California Skilled Nursing, Assisted Living, and Memory Care Facility

232/223(f) loan under the U.S. Department of Housing and Urban Development (HUD) comes after Forbright Bank financed the acquisition of the facility in 2022

CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright Bank successfully closed a $44.2 million HUD loan for a skilled nursing, assisted living, and memory care facility in California. The financing, provided under the HUD 232/223(f) program, will support a 318-bed facility as it provides seniors in the San Jose area with personalized and specialized care. The loan was closed in partnership with Forbright Bank’s Healthcare Lending team which provided bridge financing for the acquisition of the facility in 2022.

"We’re pleased to offer a full suite of customized, competitive financing solutions for seniors housing and healthcare providers, including short-term bridge and long-term HUD financing,” said Jonathan Camps, Managing Director of Forbright Bank’s HUD Lending Team. “Our team has decades of experience supporting seniors housing and healthcare facilities as they provide quality, affordable care throughout the country.”

The 232/223(f) loan for the California facility refinanced existing Forbright Bank bridge and partnership debt, reimbursed the borrower for recent capital expenditures, funded critical repairs, and covered all transaction costs associated with the HUD loan. The 35-year fully amortizing term loan will provide the borrower with long-term stability.

In 2022, Forbright Bank provided a bridge loan for the acquisition of the facility alongside a line of credit for working capital. The line of credit remains in place alongside the newly placed HUD loan.

Today’s announcement comes on the heels of Forbright Bank announcing a $10.7 million 232/223 (f) loan for a 120 bed Skilled Nursing Facility in Georgia last month. The loan refinanced existing Forbright Bank bridge debt, partnership debt, and all transaction costs associated with the HUD loan.

About Forbright Bank

Forbright Bank (www.forbrightbank.com), Member FDIC, Equal Housing Lender, is a bank and commercial lender headquartered in Chevy Chase, Maryland. Forbright is building a bank for a brighter future by supporting our customers’ financial goals and financing the entrepreneurs, businesses, and projects driving our economy forward.

Contacts

Ben Wakana
info@forbrightbank.com

Industry:

Forbright Bank

Release Versions
English

Contacts

Ben Wakana
info@forbrightbank.com

More News From Forbright Bank

Forbright, Inc. Reports Second Quarter 2026 Results

CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright, Inc. (Nasdaq FRBT): Fellow Shareholders, Forbright, Inc. (Nasdaq FRBT) ("Forbright," the "Company," "we," "our," or "us") wants to begin by welcoming our new shareholders. Because this is our first letter, we will spend more time discussing our strategy, the market opportunity, and our plan to create long-term shareholder value. We think it is important to set the table clearly: how the market is evolving, why we are positioned to capitalize on thos...

Forbright, Inc. Schedules Release of Second Quarter 2026 Financial Results

CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright, Inc. (Nasdaq: FRBT) (the "Company"), the parent company of wholly-owned subsidiary Forbright Bank, has scheduled the release of its second quarter 2026 financial results for Thursday, July 30, 2026, at approximately 6:00 a.m. ET. The earnings press release and investor presentation will be available on the Company’s Investor Relations website at ir.forbrightbank.com.Forbright, Inc. will host a conference call at 8:00 a.m. ET on July 30, 2026 to revie...

Forbright Announces Closing of Initial Public Offering

CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright, Inc. (“Forbright”) today announced the closing of its initial public offering of 7,900,000 shares of its Class A common stock at a public offering price of $18.00 per share for approximately $142.2 million aggregate gross proceeds to Forbright. The shares of Class A common stock began trading on the Nasdaq Global Select Market on June 11, 2026, under the ticker symbol “FRBT.” In addition, Forbright granted the underwriters a 30-day option to purchas...
Back to Newsroom