Cambridge Realty Capital Companies provided a $10.7 million HUD loan for an undisclosed borrower to refinance its skilled nursing facility in New Jersey. Pine Acres Healthcare & Rehabilitation Center, a 102-bed SNF in Madison, is approximately 40 miles west of Manhattan. It offers long-term care and rehabilitation services, with a variety of post-operative services and amenities, including private and semi-private rooms.
This follow’s Cambridge’s refinance of a 107-unit affordable senior apartment community in Evanston, Illinois, announced earlier in March. Built in 1976, Ebenezer Primm Towers has 107 units in nine stories. Its Illinois-based corporation owner received a $7.4 million HUD loan with a fully amortizing 40-year term.
