Cambridge Realty Capital Companies has closed on a $6.5 million FHA-approved HUD Lean loan to refinance Laurel Baye of Greenville, a 132-bed skilled-care nursing home in Greenville, S.C.  Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 22.7-year term loan was refinanced for the borrower, a South Carolina limited liability company, using the HUD Section 232 pursuant to Section 223 (a ) (7) funding program. The interest rate was not disclosed.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions. The company is one of the nation’s leading nursing home, assisted living and healthcare debt and equity capital providers, with more than 400 closed transactions totaling more than $4.5 billion since the early 1990’s, when the firm began its specialization in providing senior housing capital.

 

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