Cambridge Realty Capital has arranged a $21,522,000 bridge-to-HUD first mortgage loan for a 108-bed Skilled Nursing Facility. The facility is located in Kentucky.
Cambridge arranged the financing on behalf of the borrower with a large regional commercial bank.
Zach Scardina, Cambridge’s Vice-President of Originations, said that the bridge-to-HUD loan provided the borrower with high leverage acquisition financing at 100% LTC which allowed the borrower to acquire the real estate without having to contribute any additional cash equity. Cambridge’s HUD LEAN platform will be used to refinance the bridge loan.
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