Cambridge Realty Capital Companies reports providing a $9,800,000 HUD Lean loan to refinance Laurel Manor Healthcare and Rehabilitation Center, a 104-bed skilled nursing care facility located in Stratford, New Jersey. Jeffrey A. Davis, Cambridge President, said the fully amortized, 30-year loan was provided for the owner, a New Jersey limited liability company, 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.
Laurel Manor Healthcare and Rehabilitation Center offers short and long-term stays. Services include physical, occupational and speech therapy, hospice care, respite care, plus stroke, cardiac, wound, diabetes, surgical, oncology, pulmonary, amputee, and trauma care as well as IV therapy. Amenities include on-site barber and beauty shop, quality dining, in-room television, and phone. Guests can partake in activities, entertainment, painting classes, pet therapy, exercise sessions, and trips. In addition to 24-hour skilled care, social workers are also on-site to work with patients and their families in a variety of capacities.