Cambridge Realty Capital reports providing a $2,140,900 first mortgage loan to refinance Wells Point Lodge located in Pflugerville, Texas. Anthony Marino, Cambridge Managing Director, reported that the fully-amortized, 35-year loan was provided for the owner, a Texas limited liability company, using the HUD Section 232/223(f) mortgage insurance program.
Cambridge’s Early rate lock program was utilized, which allowed the Owner to avoid the recent run-up in interest rates. Marino stated that Cambridge’s Early rate lock program allowed the Owner to fully mitigate the risk associated with rising interest rates and contributed to a more predictable and efficient HUD execution.
Wells Point Lodge is a 60-bed assisted living, seniors-oriented community. Wells Point Lodge provides trained staff on-site 24 hours per day to meet the varying needs of residents, including three chef-prepared meals per day. Other amenities include cable TV, Wi-Fi, and on-site salon and spa services.
Privately owned and operated since 1983, Cambridge Realty Capital is one of the nation’s most experienced and trusted HUD Lenders.