Cambridge Realty Capital Companies reports providing a $3,111,000 HUD Lean loan to purchase Maple Creek of Lakewood, a 75-bed assisted living facility, located in Lakewood, WA. Jeffrey A. Davis, Cambridge President, said the fully amortized, 30-year loan was provided for the Oregon owner’s managing members, Maple Creek Venture, LLC and Dr. Christian A. Mason, using the HUD Section 232 pursuant to Section 223(f) funding program. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans. Davis noted that this loan was applied for, approved, and closed during the COVID-19 pandemic.
Maple Creek of Lakewood offers a variety of living quarters, including one-bedroom, private studio, private room with shared bath and shared room/shared bath plans. Additionally, it offers different assisted living service plans to meet the unique and varying needs of residents.