Central California Skilled Nursing Facility Receives HUD Refi
Cambridge Realty Capital provided the fully amortized, FHA-insured mortgage, which is set to mature in 35 years.
Anberry Transitional Care. Image via Google Street View
Cambridge Realty Capital has provided a $16.3 million refinancing loan for Anberry Transitional Care, a 72-bed skilled nursing facility in Merced, Calif. The company provided the owner, a private investor from California, with a fully amortized HUD Lean loan which is set to mature in 2054. Cambridge Realty accessed the FHA-insured mortgage through HUD’s Section 223(f) loan insurance program, an important source of debt capital for the senior housing industry.
Built in 2016, the property is located at 1000 W. Yosemite Ave. on 3.5 acres. The facility is roughly 2.5 miles from downtown Merced and 5 miles from Merced Regional Airport. Several retail options are available within a 2-mile radius.
Anberry Transitional Care provides short-term rehabilitation services and 24-hour skilled care for people recovering from illnesses or surgery. Amenities include nutrition and therapy services, a physical therapy center, a beauty shop, two dining venues, as well as courtyard dining. Additionally, the property is solar-powered.
