Cambridge Realty Capital Companies has been quite prolific this month in the HUD market. Just last week, the firm closed two loans totaling $24 million for two senior care campuses in Ohio.
Then, in Merced, California, Cambridge provided a $16.3 million HUD loan to refinance a 72-bed transitional care facility. The property offers units with private restrooms, nutrition services, therapy, and physical therapy services, a physical therapy center, two restaurant-style dining venues, courtyard dining facilities plus an on-site beauty salon. The California limited partnership borrower received a fully amortizing 35-year loan.
Finally, Cambridge headed across the country to refinance a 104-bed skilled nursing facility in Stratford, New Jersey (Philadelphia MSA). The $9.8 million loan came with a fully amortizing 30-year term and was obtained by a New Jersey LLC. Services at the facility include physical, occupational and speech therapy, hospice care, respite care, plus stroke, cardiac, wound, diabetes, surgical, oncology, pulmonary, amputee and trauma care as well as IV therapy. Residents can also partake in activities, entertainment, painting classes, pet therapy, exercise sessions, and trips.
