CHS x 3 = closing, Closing, CLOSING!!!

October 2018 Capital Wisdom #10

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Cambridge Closes 3 HUD Loans Totaling $28,400,000 In Unique Collaboration With Both Lessee And Lessor To Help Facilitate Mutual Goals

Cambridge Realty Capital Companies reports arranging three loans to fund three Ohio properties owned by Continuing Healthcare. The deals included a $6,080,000 HUD Lean loan to refinance The Suites at Continuing Healthcare in Niles, OH; a $6,400,000 HUD Lean loan to refinance Continuing Healthcare of Milan in Milan, OH; and a $15,920,000 HUD Lean loan to refinance Continuing Healthcare of Niles in Niles, OH. The Suites at Continuing Healthcare in Niles is an assisted living facility. Both Continuing Healthcare of Niles and Continuing Healthcare of Milan are skilled nursing facilities.
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For The Best Results, Relationship-Building Process Demands An Orderly, Systematic Approach

Mortgage lenders and bankers looking to build a productive and rewarding relationship with a competent senior housing/healthcare funding specialist may be well advised to follow a systematic approach, one expert believes.

Cambridge Realty Capital Companies Chairman Jeffrey A. Davis says the management team at his company has identified eight pivotal steps in the relationship-building process. Ideally, for the best results, these steps should occur in an orderly sequence, he says.

Cambridge Provides HUD Loan To Refinance The Cahokia Nursing And Rehabilitation Center In Cahokia, IL

Cambridge has provided a $3.9 million HUD first mortgage loan to refinance the Cahokia Nursing and Rehabilitation Center, a 150-bed skilled care nursing facility in Cahokia, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 35-year term loan was arranged for the property’s owner, an Illinois limited liability company, using HUD’s Section 232 pursuant to Section 223(a)(7) funding program. This program is for owners refinancing an existing HUD loan.

The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the company’s HUD underwriting business. The interest rate was not disclosed.

Study Shows Consumers Not Keeping Pace With Changes In Senior Care Housing

A new study by the Conversation Research Institute (CRI) confirms something senior housing/ healthcare owners and operators have suspected for a very long time.

“The research shows that those looking for care for a loved one do not understand the various types of care options available in the market today. Rapid progress has apparently outpaced the public’s ability to keep pace with developments in the industry,” says Cambridge Realty Capital Companies Chairman Jeffrey A. Davis.

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