Flowers by the Bayside

Cambridge Realty Capital reports providing a $15,355,000 first mortgage loan to refinance Casa de Flores and Bayside Care Center located in Morro Bay, California. Hymie Barber, Cambridge’s National Originations Manager, reported that the fully-amortized, 34-year loan was provided for the owner, a California limited liability company, using the HUD Section 232/223(f) mortgage insurance program.
 
Cambridge’s Early rate lock program was utilized, which allowed the Owner to avoid the recent run-up in interest rates. Barber stated that Cambridge’s Early rate lock program allowed the Owner to fully mitigate the risk associated with rising interest rates and contributed to a more predictable and efficient HUD execution.
 
Together, Casa de Flores and Bayside Care form a continuous care community, providing both assisted living and skilled nursing services. Casa de Flores is the assisted living facility, offering apartment-style living with 24-hour on-site staffing. Casa de Flores provides three levels of assistance (independent living, personal care, and personal care plus) and has an on-site physical therapy room. Bayside Care provides the next level in the care continuum, providing on-site skilled nursing care and short-term rehabilitation services.

Why don't you contact Cambridge today to get the capital your senior housing vision needs? We're here for you with sound advice, so call us today at 312-357-1601 to discuss your transaction. Feel free to visit our blog, or check out our website to learn more about all of our services.