Cambridge Realty Capital Companies reports arranging two loans for two properties owned by a single operator. A $2,400,000 HUD Lean loan was granted for North Country Senior Living of Collinsville, Oklahoma, a 125-bed skilled nursing and assisted living facility. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, 26-year loan was arranged for the owner, an Oklahoma limited liability company, using the HUD section 232 pursuant to Section 223(f) funding program.
A second HUD Lean loan for $7,482,600 was granted for Heartsworth Senior Living of Vinita, Oklahoma, a 202-bed skilled nursing/assisted living/independent living facility. The fully amortized, 28-year loan was arranged for the same Oklahoma ownership, using the HUD Section 232 pursuant to Section 223(f) funding program. Underwriting both transactions was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans. Read more.
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