Cambridge Provides $7.9M Loan To Refinance Pennsylvania Nursing Home

Springfield, PA - Cambridge Realty Capital Companies has provided a five-year, $7.9M conventional first-mortgage loan to refinance Harlee Manor, a 153 bed skilled nursing and assisted living facility in Springfield, PA.

Chairman Jeffrey A. Davis said the loan was arranged for the Sproul Manor Partnership, the property's owner, and included cash out. It is amortized over 25 years with a 7.65 percent interest rate.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nation's leading senior housing and healthcare debt and equity capital providers, closing more than 275 such transactions totaling more than $1.75B.

The company is one of the nation's leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / lease-backs for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

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. Additionally, the company has created four separate processes for customer groups that are designed to build and enhance long-term relationship potential and speed the way loans are processed and closed. Programs include The Key To Capital for senior housing owners, The Navigator Experience for senior housing brokers and mortgage bankers, The Principal Lender Network for lenders who refer loans to Cambridge, and The Relationship Building Experience for various industry-related consultants, including lawyers and accountants.

The company has a regional office in New York, affiliate office in Los Angeles, and correspondent relationships in other U.S. cities. The firm also has established key origination relationships and a dozen or more Internet-based strategies.

SOURCE: Cambridge Realty Capital Companies