Cambridge Provides $24M in HUD Loans to Refinance Two Ohio Skilled Nursing Facilities

LISBON AND MINERAL RIDGE, Ohio — Cambridge Realty Capital Cos. has provided two loans through the U.S. Department of Housing and Urban Development’s LEAN mortgage insurance program.

The $24 million will refinance debt on The Vista Care Center and The Ridge Care Center. An Ohio-based limited liability company was the borrower.

The Vista Care Center, located in Lisbon, is a 76-bed skilled nursing and assisted living facility. The Ridge Care Center, located in Mineral Ridge, is a 181-bed skilled nursing and assisted living facility.

Cambridge provided a fully amortized, 30-year loan for the Lisbon property and a 35-year loan for the Minera Ridge asset.