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Cambridge Realty Capital Companies reports closing a $13.3 million FHA-insured HUD Leanloan that refinanced Highland Manor of Elko, a 147-bed skilled nursing and assisted living facility in Elko, Nevada.

Chairman Jeffrey A. Davis said the fully-amortized, 35-year term mortgage was arranged for the owner, a Nevada limited liability company, using HUD’s Section 232 pursuant to 223(f) funding program. The transaction was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in FHA-insured HUD Lean loans.

Highland Manor of Elko has 112 skilled care and 35 assisted living beds. The interest rate on the loan was not disclosed.

A $5.1 million first mortgage loan to refinance the Rock Island Nursing and Rehabilitation Center, a 177-bed skilled care nursing home in Rock Island, Ill., has been arranged by Cambridge Realty Capital Companies.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 30-year term HUD Lean loan was arranged for the property’s owner, an Illinois limited liability company. It was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.

Cambridge used HUD’s Section 232 pursuant to Section 223 (a)(7) funding program. The interest rate for the loan was not disclosed.

Cambridge Realty Capital Companies reports closing on a $11.3 million HUD Lean loan to refinance Columbus Park Nursing and Rehabilitation Center, a 216-bed skilled nursing home in Chicago, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 30-year term loan was arranged for the property’s owner, an Illinois limited liability company. The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializing in underwriting FHA-insured HUD loans. The interest rate for the loan was not disclosed.

Cambridge Realty Capital reports closing on a $4.5 Million HUD Lean loan for the Bethany Healthcare and Rehabilitation Center, a 90-bed skilled nursing home facility in DeKalb, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 34-year term loan was arranged for the property’s owner, an Illinois corporation, using the HUD Section 232 pursuant to Section 223(a)(7) refinance program. The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans. The interest rate was not disclosed.

Cambridge Realty Capital Companies has provided a $7.2 million HUD Lean loan to refinance Rose Estates, an 80-bed assisted living facility in Overland Park, Kansas.

Cambridge Chairman Jeffrey A. Davis says the fully-amortized, 35-year term loan was arranged for the owner, a Kansas limited liability company, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.

The property was refinanced using the HUD Section 232 pursuant to Section 223(f) funding program. The interest rate was not disclosed.

Cambridge Realty Capital Companies reports arranging a $4.04 million HUD Lean loan to refinance The Pines Health Care Center, a 145-bed skilled nursing home in Lansing, Michigan.

Chairman Jeffrey A. Davis said the transaction was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in FHA-insured HUD Lean loans. The fully-amortized, 24-year term loan was arranged for the owner, a Michigan corporation.

The property was refinanced using HUD’s Section 232 pursuant to Section 223(a)(7) funding program. The interest rate was not disclosed. 

The holidays are well and truly over, and you’re now faced with the reality of a new year and new challenges. As you search for the right financing for a senior housing facility, you may become frustrated by lenders’ and investors’ inability to find the right solutions for you, thanks to an overall lack of understanding about Senior Housing and Long-Term Care by the investment community.

Don’t become frustrated! Remember that all financial and investment firms are not alike. Cambridge is dedicated to senior housing and long-term care, so we understand your challenges.

We have completed over 300 separate real estate debt and equity financial transactions in excess of $3 billion dollars on senior housing and long-term care facilities, and we’ve been one of the nation’s leading HUD 232 senior housing and long-term care lenders for over the past 10 years. We also have our own private equity fund to help you buy or lease a facility you may currently operate.

We’re happy to work with you on finding solutions to your financing needs and help you cross one of those challenges off of your New Year’s list!

The Congressional  “supercommittee” made up of Democrats and Republicans has been unable to come up with a budget savings solution of $1.5 trillion over the span of ten years. If no agreement is reached this week,  $1.2 trillion in spending cuts will be automatically enacted on hundreds of programs, beginning in 2013. A few programs have been exempted from the automatic cuts, such as Social Security, the Medicaid health program for the poor, Medicare health benefits for the elderly, veterans’ pensions and many programs for people with low income.

These unexpected budget cuts result in an unpredictable savings plan for both nursing homes and assisted living facilities. Even though Medicaid will be exempt from the automatic cuts if an agreement is not reached, Medicare will experience a 2% cut in payments to nursing homes and other health care providers. Although 2% does not seem like very much, this will cost each nursing home an average of $50,000, which is the equivalent of two direct-care workers. Since the automatic cuts won’t be enforced until 2013, lawmakers still have the ability to pass legislation decreasing the reductions in 2012, so this is a worst-case scenario, but the cuts remain a possibility if Congress cannot devise an alternative solution.

Cambridge Chairman Jeffrey A. Davis will participate in a panel discussion on healthcare finance during the annual HCap (Healthcare Capital) Conference scheduled December 7-9 at the JW Marriott Hotel in Washington, D. C.

In the session five panelists are slated to discuss Healthcare Finance 202: A CEO Primer. Joining Mr. Davis on the Dec. 8 panel will be Tim Ashe, Frazzi Associates; David Allen, NXT Capital; Greg Pachus, Silicon Valley Bank; and Mark O’Brien, Gemino Healthcare Finance.

HCap is a national venue for healthcare providers and capital to meet, do business and learn about policy and entrepreneurial trends. Conference participants gain insights from policy insiders and visionaries on big picture trends affecting the entire healthcare system.

“The conference provides an opportunity for conference participants to meet leading players and strengthen access to capital. Participants network with CEOs and CFOs from other healthcare provider segments.” Mr. Davis said.

Keynote speaker for the HCap Conference will be Congressman Paul Ryan (R-WI), Chairman of the House Budget Committee. Rep. Ryan will discuss the controversial “premium support plan” he believes will transform Medicare into a more economically sustainable model.

Cambridge Realty Capital Companies has closed on a $2.48 million HUD Lean first-mortgage loan to refinance Fair Oaks Nursing and Rehab Center, a 78-bed skilled nursing home in South Beloit, Ill.

Cambridge Chairman Jeffrey A. Davis says the fully-amortized, 30-year term first-mortgage loan was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-approved HUD loans. The property was refinanced using the HUD Section 232 pursuant to Section 223(f) funding program. The interest rate was not disclosed.