Cambridge Realty Capital Companies reports providing 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. Jeffrey A. Davis, Cambridge President, 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. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois. the Cambridge business that specializes in underwriting FHA-insured HUD loans.
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.
