Bravo Capital Accepts Build-to-Rent Loan Requests After HUD Mortgagee Letter 2026-12

Bravo Capital said on October 15, 2026 that it is accepting Build-to-Rent financing requests under HUD Mortgagee Letter 2026-12, effective immediately. The New York-based commercial real estate financing platform announced the move in a statement distributed by PR Newswire.

Bravo Capital's Build-to-Rent Financing Under Mortgagee Letter 2026-12

HUD will now accept applications for mortgage insurance on multifamily rental properties made up of detached single-family homes, duplexes, or triplexes. Under the guidance, BTR communities are treated under the same terms and conditions as traditional multifamily rental developments, subject to specific requirements.

HUD Section 221(d)(4) applies to new construction, and Section 223(f) applies to acquisition or refinancing. Acquisition or refinancing under 223(f) is limited to recently constructed BTR communities, meaning properties with a certificate of occupancy dated less than three years before the HUD application is submitted.

Communities must sit on a cohesive, contiguous site, be developed as long-term rental housing, be operated as one multifamily rental property, and be professionally managed comparably to multifamily properties in the market. Bravo Capital said BTR sponsors have relied largely on construction loans and short-term bridge debt until now, and that the guidance gives them access to HUD's long-term, fixed-rate, non-recourse financing. Developers can use 221(d)(4) to fund construction, and owners of recently completed communities can use 223(f) as a permanent takeout. For communities that need time to stabilize first, Bravo Capital's Bridge-to-HUD platform offers a path to permanent HUD financing.

"Build-to-rent has become a meaningful part of the rental housing market, and until now it has largely sat outside of HUD," said Aaron Krawitz, CEO of Bravo Capital. "This guidance puts BTR communities on the same footing as traditional multifamily and opens the door to long-term, fixed-rate, non-recourse capital. We are already working with developers and owners to evaluate how their communities fit the new requirements."

Bravo Capital's Lending Record

According to akta.pro company records, Bravo Capital and its affiliates have closed over $2 billion in real estate financing across the nation since 2021. Bravo Property Trust and affiliates have originated and financed more than $1.6 billion in bridge and HUD-focused financings since inception. In June 2025, Bravo Property Trust signed an investment agreement with a major Middle Eastern sovereign wealth fund manager for an initial $400 million capital deployment schedule, with capacity to scale up to $400 million, for bridge, construction, and stabilized multifamily and healthcare financing.

Bravo Capital's Recent HUD Track Record

In September 2026, PR Newswire reported that Bravo Capital ranked #1 among HUD lenders for closing reliability in 2025, closing 100% of its 9 firm commitments totaling $201 million. In August 2026, The Real Deal reported that Tona Construction and Management filed an adversary complaint against Bravo Capital and its affiliate BPT 50S Funding in U.S. court over a stalled HUD refinancing on a $100 million Newark tower.

Mortgagee Letter Availability

The full Mortgagee Letter is available at hud.gov. Bravo Capital said it is already working with developers and owners to evaluate how their communities fit the new requirements.