Cambridge Realty Capital Companies reports arranging a $5,265,800 HUD Loan for the owner of Windsor Lane Health Care Center, located in Gibsonburg, OH. Jeffrey A. Davis, Cambridge Chairman, said a 6-month construction loan and a fully-amortizing, 34.5-year permanent loan was provided to the owner, an Ohio limited liability company, to construct a building addition and refinance the existing debt using the newly created HUD Section 232 Blended Rate program, which was created by HUD to accommodate owners of health care facilities who wish to construct new additions to existing facilities while simultaneously refinancing the existing debt. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
Windsor Lane Health Care Center is a 99-bed skilled care nursing home. It provides 24 hours per day skilled nursing care and a variety of medical and non-medical services.