Cambridge provides $5.5 million refinancing for Ridgeview Rehab.

Cambridge Realty Capital Companies has provided a $5.5 million FHA-insured permanent mortgage loan to refinance the Ridgeview Rehabilitation and Nursing Center, a 136-bed skilled care nursing facility. Cambridge chairman Jeffrey Davis said the fully-amortized, 35-year term mortgage was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital of Illinois Ltd., an FHA/MAP-approved HUD lender. The lender utilized HUD's Section 232 pursuant to Section 223(f) funding program. The rate was not disclosed. The company is one of the nation's leading HUD 232 FHA/MAP approved lenders and also has an integrated debt/equity financing strategy that includes direct property acquisitions and joint ventures; sale/ leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

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The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.

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Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.

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Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4