Cambridge Realty Capital Companies has successfully arranged a $5,950,000 conventional loan for the acquisition of Twilight Haven Senior Living in Fresno. The buyer, a California limited liability company, was able to secure the fully-amortized 25-year loan thanks to Brent Holman-Gomez’s expertise as SVP at Cambridge. The transaction was underwritten by an industrial bank based in Utah.
Twilight Haven offers 60 independent living units and 116 assisted living beds along with 50 skilled nursing care beds. Its assisted living business is primarily focused on the Medi-Cal Assisted Living Waiver program.
According to Holman-Gomez, this acquisition presented a major opportunity for the nonprofit seller and for-profit buyer alike. “The selling operator had filed for bankruptcy and their skilled nursing facility was closed,” he explained. “Despite these challenges and current market conditions, we were able to secure a high loan-to-cost ratio within traditional norms which will allow our borrower to expand their business while minimizing upfront costs.”
This recent purchase of Fresno’s senior living community marks another successful venture by Cambridge Realty Capital Companies without mentioning any specific locations or brands associated with them.
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