Cambridge Realty Capital Companies reports arranging a $13,840,000 HUD Lean loan to refinance the Hawthorne Health and Rehabilitation Center and the Hawthorne Inn located in Brandon, FL. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, 30-year loan was arranged for the owner, an Florida limited liability company, using the HUD Section 232 pursuant to Section 223(f) funding program, which is used to refinance existing loans. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
Hawthorne Health and Rehabilitation is a 120-bed skilled care nursing facility. It provides a range of health care services, including physical, occupational and speech therapy. Hawthorne Inn is a 58-bed assisted living facility. It provides 24-hour on-site staffing and a variety of day-to-day living services.