Jeffrey Davis, Cambridge Realty Capital Companies
Huntington Hills Center for Health & Rehabilitation, Melville, NY
Melville, NY Cambridge Realty Capital Companies reports closing a $30.2 million FHA-insured HUD Lean mortgage to refinance the Huntington Hills Center for Health & Rehabilitation, a 320-bed skilled care nursing facility.
Cambridge chairman Jeffrey Davis said the fully-amortized, 30-year term loan was arranged for the owner, a New York limited liability company. The loan was coordinated by Cambridge's national origination manager Hymie Barber and underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that specializes in underwriting HUD Lean loans.
Davis said Cambridge utilized HUD's Section 232 pursuant to Section 223(a)(7) Lean financing program for borrowers refinancing an existing HUD loan. The loan was processed in the "Green Lane," a special queue created by HUD for processing low-risk loans.
Cambridge is the creator of The Signature Experience, a four-step process designed to transform the traditional lender/borrower relationship and identify "ideal" capital solutions for worthy projects.
The company has a national origination office in Los Angeles, and numerous correspondent and brokerage relationships nationwide.
Cambridge publishes the bi-monthly e-PULSE! electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.
Story ran in the Financial Digest section on 09/28/2010
No comments:
Post a Comment