Cambridge Realty Capital Companies has provided two HUD Lean loans totaling $24 million to refinance The Vista Care Center of Lisbon, OH, and Vista Center at The Ridge of Mineral Ridge, OH.
The Vista Care Center of Lisbon is a 76-bed mixed-use skilled care and assisted living facility. The Ridge Care Center of Mineral Ridge is a 181-bed mixed-use skilled care and assisted living facility. Both facilities feature private and shared living accommodations, restaurant-style dining and housekeeping and laundry services. Residents have access to a variety of non-medical amenities, as well as on-site healthcare services including dentistry, podiatry, IV therapy, optometry, audiology, psychology and medical imaging.
Cambridge President Jeffery A. Davis said the fully amortized, 30- and 35-year loans were provided for the owner, an Ohio limited liability company, using the HUD Section 232 pursuant to Section 223(f) funding program. Cambridge Realty Capital Ltd. of Illinois underwrote the transaction.
Cambridge has three distinct business units: FHA-insured HUD loans, conventional financing and investments and acquisitions. Cambridge has consistently ranked among the country’s top ten FHA-insured HUD lenders over the last 15 years.