RXR and Hudson Realty Capital Launch $250 Million Bridge-to-HUD Loan Program for Multifamily and Healthcare Assets
NEW YORK (June 1, 2026) – RXR, a leading New York-based real estate owner and operator, and Hudson Realty Capital (Hudson), an integrated commercial real estate and FHA/HUD lender providing financial solutions to sponsors nationwide, today announced the launch of a new $250 million bridge-to-HUD loan program for the acquisition and refinancing of multifamily and healthcare assets.
The program is designed to provide borrowers with near-term capital certainty while establishing a defined pathway to long-term HUD-insured permanent financing. During the bridge term, borrowers have the ability to pursue FHA/HUD financing with Hudson, allowing for a more streamlined transition to permanent debt execution. Loans are subject to a minimum six-month lockout period, after which they may be prepaid without penalty.
RXR and Hudson are targeting loans with the following characteristics:
- Loan sizes ranging from $10 million to $35 million
- Up to 80% loan-to-value
- Up to 80% loan-to-cost
- 12- to 24-month loan terms
The program launches at a time when owners and operators are facing elevated borrowing costs, constrained bank lending, and mounting refinancing pressure as a significant volume of commercial real estate debt approaches maturity, driving increased demand for flexible financing solutions and alternative sources of capital.
“This product brings together the distinctive competitive strengths of the RXR and Hudson platforms,” said Steven Schwartz, Head of Credit at RXR. “Hudson’s deep expertise in HUD programs, combined with RXR’s multifamily sourcing and underwriting capabilities, positions us to deliver attractive risk-adjusted returns for our investors while addressing an important financing need in the market.”
“Multifamily and healthcare assets continue to benefit from durable demand drivers and remain priority sectors for lenders and investors despite ongoing market volatility,” said Rich Ortiz, Co-Managing Partner at Hudson Realty Capital. “This program is positioned to provide borrowers with flexible transitional capital and a clear path to long-term HUD-insured financing in an increasingly difficult interest rate environment.”
“Borrowers today are prioritizing speed, flexibility, and certainty of execution as they navigate refinancing risk and capital markets volatility,” said Paul Griffin, Managing Director of Due Diligence/FHA Operations at Hudson Realty Capital. “Our team is focused on delivering efficient execution and helping clients move decisively and confidently toward their goals.”
In 2022, RXR and Hudson formed a strategic lending partnership designed to deploy capital into commercial real estate opportunities, with a focus on flexible capital solutions for complex or non-traditional real estate transactions. The venture combines RXR’s vertically integrated real estate platform—spanning development, ownership, and asset management—with Hudson’s specialty finance and credit expertise, particularly in structured and transitional lending.
About RXR
RXR is an innovative real estate investment manager, operator, developer, and place-maker committed to applying a customer and community-centered approach to acquiring, operating, and building properties and to providing services and products that create enduring value for all stakeholders. Headquartered in New York with a nationally-scaled platform, RXR is an approximately 450 person, vertically integrated investment manager with expertise in a wide array of value creation activities, including acquisitions, asset and portfolio management, property operations, development, construction, leasing, and technological innovation. RXR is an active investor in real estate credit, rental housing, commercial property, and property technology through value-added and opportunistic investment strategies. The RXR platform manages 109 commercial real estate properties and investments with an aggregate gross asset value of approximately $16.6 billion, comprising approximately 30.9 million square feet of commercial properties, a multi-family residential portfolio of approximately 9,600 units under operation or development, and control of development rights for an additional approximately 3,000 multi-family and for sale units as of June 30, 2025. Gross asset value compiled by RXR in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.
About Hudson Realty Capital
Hudson Realty Capital is an integrated commercial real estate investment manager and FHA/HUD lender providing financing solutions across the capital stack to sponsors nationwide. Known for its hands-on approach and robust in-house infrastructure, Hudson’s team brings deep expertise in debt origination, distressed debt analysis and workouts, due diligence, securitization, asset management, loan servicing, and dispositions. Since its founding in 2003, Hudson has managed investments representing more than $4.5 billion in aggregate transaction value across the multifamily, office, industrial, retail, mixed-use, hospitality, and healthcare sectors.