Cambridge Realty Capital Closes HUD Deal
The HUD pipeline is still flowing these days, and Cambridge Realty Capital Companies announced a loan closing for a 115-bed skilled nursing facility in northeast Texas in the city of Longview. Built in the 1980s but well maintained, this facility has so far been spared from COVID-19. The New York-based owner decided to refinance and, with the help of Cambridge, obtained a $3.907 million HUD loan. The interest rate came in under 3%, and the loan came with a fully amortized 29-year term. Read More »
Cambridge Realty Capital Refinances Illinois SLF
Three years after acquiring a supportive living community in Pontiac, Illinois, a regional owner is refinancing the property with the help of Cambridge Realty Capital Companies. Originally built in 2009, the 60-unit community is made up of 52 private studio and eight one-bedroom units. It is also located just minutes from OSF St. James Hospital. At the time of its December 2016 sale, it was about 82% occupied, with a 16% operating margin on approximately $1.73 million of revenues. The purchase price came to $7.5 million, or $125,000 per unit. Now, Cambridge has secured a $7.6 million HUD loan, with a fully amortizing 35-year term, to refinance it. Read More »
Cambridge Realty Capital Closes Two Oklahoma Financings
Cambridge Realty Capital Companies closed two HUD transactions in the state of Oklahoma for a couple of skilled nursing facilities operated by Diakonos Group. The first was for a 125-bed senior care facility in Collinsville (Tulsa MSA), which received a $2.4 million loan with a fully amortizing 26-year term. The facility is comprised of 90 skilled nursing and 35 assisted living beds, with long- and short-term care plus physical, occupational and speech therapy services. Then, Cambridge arranged a $7.48 million loan, with a 28-year term, for a senior care campus in Vinita (northeast Oklahoma). The property offers 50 independent living, 25 assisted living and 127 skilled nursing beds, with... Read More »
Cambridge Realty Capital Arranges Refinance for Florida AL Community
Cambridge Realty Capital Companies successfully refinanced an assisted living community in Largo, Florida (St. Petersburg MSA). The 63-bed community, which is owned by a Florida limited liability company, obtained a $4.1 million HUD loan with a fully amortizing 33-year and eight-month term. Amenities at the pet-friendly community include a hair and nail salon, library and gardens with walking paths. It also provides in-house therapy with Fusion Healthcare. Autumn Senior Living manages the community. This transaction was one of eight HUD Lean refinances that Cambridge closed in the previous HUD fiscal year, with a total of $80.8 million in volume. Read More »Schedule a demo
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