Cambridge Realty Capital Companies reports closing a $30.2 million FHA-insured HUD Lean mortgage to refinance the Hunting Hills Center for Health & Rehabilitation, a 320-bed skilled care nursing facility in Melville, N.Y.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 30-year term loan was arranged for the owner, a New York limited liability company. The loan was coordinated by Cambridge's National Origination Manager Hymie Barber and underwritten by Cambridge Realty Capital Ltd. Of Illinois, the Cambridge business unit that specializing in underwriting HUD Lean loans.

Cambridge Realty Capital Companies reports closing an $8.6 million FHA-insured HUD Lean mortgage loan for   Apple Valley Christian Care Center, a 99-bed skilled-care nursing facility in Apple Valley, Calif.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 28-year term loan was arranged for the owner, a California not-for-profit corporation, using HUD's Section 232 pursuant to Section 223(f). The interest rate was not disclosed.

Underwriting the loan was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites HUD loans. The transaction was coordinated by National Origination Manager Hymie Barber and was processed in the "Green Lane," a special queue created by HUD to more swiftly process low-risk loans. Interest rate for the loan was not disclosed. 

Cambridge Realty Capital Companies has closed on a $14 million, three-year conventional mortgage loan for a portfolio of three assisted living properties located in Glendale and Valley Village, Calif., Chairman Jeffrey A. Davis announced.

Davis said Cambridge originally provided HUD financing for two of the properties, the Glen Park East Retirement Community and Glen Park West Retirement Community in Glendale, Calif., 12 years ago in 1998.  The third property included in the transaction is the Laurel Canyon Retirement Community in Valley Village, Calif.

According to Davis, the loan package provided cash-out for the borrowers and estate planning assistance and allowed them to continue in their ownership for three separate limited liability companies administered by owner Tillman Pink III.

Davis says the company's long-term relationship with the borrowers dates back more than 15 years. The new three-year conventional loan, amortized over a period of 25 years, was coordinated in house by Cambridge.

Cambridge Realty Capital Companies reports closing a $4.08 million FHA-insured HUD Lean loan to refinance Wyndham Residence, a 58-unit assisted living property in Arroyo Grande, Calif.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 34-year term loan was arranged for the borrower, a California limited liability company, by National Originations Manager Hymie Barber in the company's West Coast office. Underwriting was by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that specializes in HUD Lean financing. The interest rate was not disclosed.

Davis said the lender used HUD's Section 232 pursuant to Section 223(f) funding program for borrowers refinancing earlier HUD loans.  The interest rate was not disclosed. 

Cambridge Realty Capital Companies has arranged a 12-month construction and 40-year FHA-insured permanent mortgage loan for Alden Estates of Skokie, a 56-bed skilled nursing home facility in Skokie, Ill.

Cambridge Chairman Jeffrey A. Davis said the $8.46 million HUD Section 232 loan will refinance and fund substantial rehabilitation work at the property. The fully-amortized loan was arranged for the buyer, an Illinois limited liability company, and underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that underwrites HUD loans.

The interest rate was not disclosed.

Cambridge Realty Capital Companies has closed on a $4.68 million FHA-insured HUD LEAN loan for Transcendent Healthcare of Boonville, a 72-bed skilled nursing home in Boonville, Indiana.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 27-year term loan was arranged for the owner, an Indiana limited liability company. Cambridge Realty Capital Ltd. of Illinois, the Cambridge affiliate responsible for underwriting insured healthcare loans, closed the transaction using HUD's Section 232.

Davis said the loan was processed in the "Green Lane," a special queue created by HUD to speed the underwriting process for low-risk loans.

Cambridge Realty Capital Companies has closed on a $10.02 million FHA-Insured HUD LEAN mortgage for Villa Health Care, a 212-bed skilled nursing and assisted living facility in Sherman, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 30-year term loan was arranged for the borrower, an Illinois not-for-profit corporation, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business entity responsible for underwriting HUD loans.

Davis said the property has 99 skilled nursing and 113 assisted living beds. It was financed using HUD's 232(a)7 - LEAN program, which is used to refinance properties with existing HUD financing. The interest rate was not disclosed.

Cambridge Realty Capital Companies reports closing on a $4.32 million FHA-insured HUD Lean mortgage loan for Transcendent Healthcare of Owensville, a 68-bed skilled care nursing home in Owensville, Ind.

Cambridge Chairman Jeffrey A Davis said the fully-amortized, 27-year term loan was arranged for the property's owner, an Indiana limited liability company, by Cambridge Realty Capital Ltd. Of Illinois, the Cambridge business entity responsible for underwriting HUD loans. The property was refinanced using HUD's Section 232 pursuant to Section 223(f) program.