News:
Brokerage
Posted: September 13, 2010
Cambridge Realty Capital completes $8.6 million loan for 99-bed skilled-care facility
Cambridge Realty Capital Companies closed an $8.6 million FHA-insured HUD Lean mortgage loan for Apple Valley Christian Care Center, a 99-bed skilled-care nursing facility.
Cambridge chairman Jeffrey Davis said the fully-amortized, 28-year term loan was arranged for the owner, a California not-for-profit corporation, using HUD's Section 232 pursuant to Section 223(f). The interest rate was not disclosed.
Underwriting the loan was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites HUD loans. The transaction was coordinated by national origination manager Hymie Barber and was processed in the "Green Lane," a special queue created by HUD to more swiftly process low-risk loans.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
