Cambridge Realty Capital Companies provided a $3,907,100 HUD Lean loan to refinance Summer Meadows, a 115-bed skilled nursing care facility located in Longview, Texas.
Hymie Barber, Cambridge Realty Capital’s national originations manager, said the fully amortized, 29-year loan was arranged for the owner, a New York limited liability company, using the HUD Section 232 pursuant to Section 223(a)(7) funding program. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
