Cambridge Realty Capital provided $19.316 million in HUD-insured Section 223(f) financing for two seniors housing assets in Texas and Missouri. The Texas financing was provided for the purchase of Ashwood Court, a 120-bed assisted living community in North Richland Hills. The Missouri financing was provided for the refinance of Northland Rehabilitation and Healthcare Center, a 118-bed skilled nursing facility in Kansas City.
Cambridge’s Early Rate Lock program was utilized, enabling the owners to early rate lock before all HUD approvals were obtained. That also allowed for the financings to include sufficient funds to complete long-term repairs and improvements.
