Cambridge Realty Capital has been extremely active in HUD Lean lending this July, reinforcing our reputation as a leader in HUD Lean financing. Cambridge is consistently ranked among the country’s top five FHA-insured HUD lenders. One of our latest transactions included arranging a $10,905,000 HUD Lean loan to refinance Manor Court in Peoria, Illinois. Manor Court is a skilled care and assisted living facility with 118 beds – fifty beds are dedicated to skilled nursing care and 68 beds are dedicated to assisted living. The fully-amortized, 29.5-year loan was arranged using the HUD Section 232 pursuant to Section 223(a)(7) funding program for the refinancing of existing HUD loans.
Last month, Cambridge Realty Capital Companies also arranged a $14,160,000 HUD Lean loan for the refinancing of the Wood Glen Nursing Center, a 148-bed skilled nursing care community in Dayton, Ohio. The fully-amortized, 30-year loan was arranged using the Section 232 pursuant to Section 223(f) funding program. The transaction was underwritten by Cambridge Realty Capital Ltd., the Cambridge business specializing in underwriting FHA-insured HUD loans. Cambridge also arranged an $8,699,700 HUD Lean loan to refinance the Riverside Nursing Center, also located in Dayton. Riverside Nursing Center is a 180-bed skilled care facility. The fully-amortized, 30-year loan was arranged using the HUD Section 232 pursuant to Section 223(f) funding program.
Another recent HUD Loan transaction arranged by Cambridge was for the refinancing of the Elmwood Care community, located in Elmwood, Illinois. Elmwood is a 235-bed community, offering a variety of senior health care services. Elmwood’s services include memory care, physical therapy, occupational therapy, on-site dialysis, ventilator and tracheostomy care, respite, and hospice care. The fully-amortized, 32-year loan was arranged using the HUD Section 232 pursuant to Section 223(f) funding program.
Contact Cambridge Realty Capital
Cambridge Realty Capital has a great deal of experience and expertise working with HUD loans. For any questions regarding HUD or any other senior living finance and capital inquiry, contact us today. Our experts are available to assist you and keep you informed throughout the lending process.