Navigation Links
AMS Closes $97.6 Million FHA 242 Insured Mortgage Loan for Construction of New Orleans East Hospital
Date:1/17/2013

JACKSONVILLE, FL and NEW ORLEANS, LA (PRWEB) January 17, 2013

AMS Health Care Mortgage Corporation provided a $97.6 million FHA insured loan to the Parish Hospital Service District of the Parish of Orleans – District “A” (“HSD”), a political subdivision of the State of Louisiana, will be used to construct a full service state-of-the-art 80 bed hospital offering inpatient and outpatient care. The FHA 242 loan, backed by the full faith and credit of the U.S. Treasury, will provide an exceptionally low fixed interest rate and amortize over a period of 25 years after completion of construction. AMS, HUD, and the entire project team worked diligently to secure HUD’s commitment prior to September 30, 2012, thus avoiding a mandated annual insurance premium increase that would have cost the HSD an additional $3.6 million over the life of the loan. The loan was funded with taxable GNMA securities (see article on right) enabling the HSD to take advantage of historically low interest rates. The structure provided by AMS saved the HSD more than $2 million dollars annually compared to traditional non-rated fixed rate bonds.

“This is an important milestone that could not have been achieved without the commitment, collaboration and hard work of the board and local legislators,” said Mayor Mitch Landrieu. “We are now one very important step closer to achieving our goal. The strength of the U.S. Government is now behind the financing of the New Orleans East Hospital and we will continue to move forward to bring this full service hospital to the New Orleans East community.”

The hospital is expect to be a major catalyst for redevelopment of New Orleans East. In addition to the 80-bed acute care hospital being built by the HSD, Daughters of Charity Services of New Orleans (DCSNO) is constructing a new $6M health care center located on the HSD campus. DCSNO, known in New Orleans for operating Charity Hospital for the poor since 1834 and later Hotel Dieu, has emerged as leader of primary care in New Orleans. Construction of the 32,000 square foot facility is scheduled for completion in the fall 2013. Once completed, the new state-of-the-art health care center will complement the services offered by the hospital by providing primary care, pediatric care, pharmacy services, behavioral health and prenatal care to more than 20,000 individuals in eastern New Orleans annually.

About AMS:

AMS, an FHA approved mortgage lender, specializes in obtaining financing for hospitals and select residential care facilities, and is consistently the leading originating banker for new FHA 242 hospital loans. Collectively, its bankers have more than 80 years of experience with the FHA hospital program, and have completed more than $8.5 billion of FHA healthcare transactions.

Read the full story at http://www.prweb.com/releases/FHA242hospital/01/prweb10317323.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Dartmouth medical research closes in on new tuberculosis vaccine
2. InnoVative Capital Closes $41 Million FHA 242 Refinancing, Cutting Morehead Memorial Hospital's Loan Rate by 21% and Reducing Debt Service by $5 Million
3. AvePoint Compliance Guardian Closes the Door on Privacy, Security & Accessibility Violations
4. NIH awards $20 million over 5 years to train next generation of global health researchers
5. Scientist awarded $1 million grant to develop tools for hepatitis C treatment discovery
6. David H. Koch donates $10 million to Mount Sinais Jaffe Food Allergy Institute
7. $9 million grant awarded to UH to study, treat learning disabilities
8. New report shows 15 million babies born too soon every year
9. Southeast program to fight diabetes awarded nearly $10 million by HHS
10. OHSU study: Misdiagnosis of MS is costing health system millions per year
11. Enzyme corrects more than 1 million faults in DNA replication
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... ... "FCPX editors can now reveal their media with growing colorful split screen ... - CEO of Pixel Film Studios. , ProSlice Color brings the split screens ... reveal the media of their split screens with growing colorful panels. , ProSlice Color ...
(Date:6/27/2016)... ... June 27, 2016 , ... A revolution ... the emergency ambulance transport experience for the millions of people who require these ... disrupted the taxi industry through the use of technology. Now, SmartEMS has put ...
(Date:6/26/2016)... ... ... On June 10-11, 2016, A Forever Recovery, a holistic treatment center for ... Table in Battle Creek, MI, where the rehabilitation facility is located. This annual celebration ... world’s leading providers of cereal and other breakfast foods. Its residents often refer to ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... Austin, TX (PRWEB) , ... June 25, 2016 , ... ... Fellow of the American College of Mohs Surgery and to Dr. Russell Peckham for ... popular and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... June 24, 2016 ... announced the addition of the " Global Markets ... This report focuses ... an updated review, including its applications in various applications. ... market, which includes three main industries: pharmaceutical and biotechnology, ...
(Date:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
(Date:6/23/2016)... 23, 2016  MedSource announced today that it ... software solution of choice.  This latest decision demonstrates ... to their clients by offering a state-of-the-art electronic ... establishes nowEDC as the EDC platform of choice ... clients.  "nowEDC has long been a preferred EDC ...
Breaking Medicine Technology: