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KANSAS CITY, Mo. And NORTH RICHLAND HILLS, Texas — Cambridge Realty Capital has provided two HUD-insured loans totaling $19.3 million for seniors housing properties located in Missouri and Texas.
In Texas, the financing included a $6 million loan for the acquisition of Ashwood Court, an assisted living facility located in North Richland Hills.
In Missouri, a $13.3 million loan was provided for the refinancing of Northland Rehabilitation and Healthcare Center, a 118-bed skilled nursing facility in Kansas City.
Both borrowers utilized Cambridge’s early rate lock program, which allows for securing an interest rate before all HUD approvals are obtained, mitigating the risk of a potential rise in rates.