Cambridge Arranges $4 Million HUD Financing For The Californian In Pasadena

June 2018 Capital Wisdom #6

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Cambridge Arranges $4 Million HUD Financing For The Californian In Pasadena

Cambridge Realty Capital Companies reports arranging a $4,697,200 HUD Lean loan to refinance The Californian, a 65-bed skilled nursing care facility, located in Pasadena, California. Hymie Barber, Cambridge National Originations Manager, said the fully-amortized, 30-year loan was arranged for the owner, a California 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.

Are You Better Off Owning Or Leasing Senior Care Real Estate?

Senior care business owners have been known to struggle with the owning vs. leasing question, but the answer to the “are you better off” question is always the same.

“It all depends,” says Cambridge Realty Capital Companies Chairman Jeffrey A. Davis.

Patience Still Important Part Of HUD Funding Process

No one likes to be kept waiting, which is why Cambridge Realty Capital Companies Managing Director Sampada D’silva suggests that senior housing/healthcare borrowers should be motivated to swiftly respond to their lender’s requests for additional documentation when needed.

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Needed Change Not Always Easy

A decision that change is needed can be relatively easy to make, but getting it done is another matter.

Chairman Jeffrey A. Davis says Cambridge Realty Capital Companies was founded in 1983 and emerged in the current century as one of the nation’s leading senior housing lenders with more than $5.5 billion in closed transactions.

“To achieve the level of success we’ve had, the company needed to reinvent itself from top to bottom,” he said.

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