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#2144081 - 08/29/17 06:33 PM Which purpose if the establishment already exists
JSD Offline
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JSD
Joined: Oct 2000
Posts: 512
USA
and the credit request is to build additional buildings to an assisted living facilities? These are not additions to the buildings, but actually new free standing ones. I know the thought is you build once and all else is renovations/improvements but not sure about this scenario.

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#2144466 - 08/31/17 03:03 PM Re: Which purpose if the establishment already exists JSD
raitchjay Offline
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Posts: 8,561
OK
I think it depends on what the additional buildings will be--will they be living spaces? A cafeteria? It's hard to say without knowing what the buildings will be. If actual "dwellings" (as defined by HMDA) are being constructed, i would call that a purchase. If the buildings being built are just 'support' buildings for the facility, it sounds more like "improving the real property on which the dwelling sits"--home improvement.
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#2144467 - 08/31/17 03:06 PM Re: Which purpose if the establishment already exists JSD
JSD Offline
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JSD
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Posts: 512
USA
The new buildings will be expanding the number of beds for the Assisted Living Facilities.

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#2144492 - 08/31/17 03:56 PM Re: Which purpose if the establishment already exists JSD
raitchjay Offline
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Joined: Oct 2009
Posts: 8,561
OK
It sounds like a purchase to me, but i will gladly defer to someone with more experience with assisted living facility lending--have never had one here.
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