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Despite the economic pressures on owners and operators in today’s tight-margin, occupancy-challenged environment, Jeffrey Davis, chairman and president of Chicago-based Cambridge Realty Capital Companies, says his company is seeing a brisk business, notably in refinancing deals utilizing HUD’s low-interest, long-repayment terms, which are among the program’s most attractive features.
“The trick here is at the end of the day, there are lots of ways to acquire a nursing home or build a nursing home or refinance a nursing home, and there is different funding for that,” he says. “But, in terms of a long-term permanent mortgage loan, there is really no other viable option besides HUD.”
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