Cambridge Realty Capital reports providing $15,011,200 to refinance Avalon Memory Care Arlington, located in Arlington, Texas. According to Cambridge Senior Vice President Brent Holman-Gomez, the new mortgage consolidates four facilities into a single long-term fixed-rate debt structure. The transaction matters because it shows how specialized HUD lending programs are being used to simplify scattered-site senior housing debt and lock in long-term fixed-rate financing for dementia-focused assisted living operators.
The fully amortized loan was provided for the owner, a Texas limited liability company, using the HUD Section 232 pursuant to Section 223(f) funding program, which is used to refinance existing HUD loans. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans. The loan is part of a $29.7M loan package. Holman-Gomez stated that the borrower desired non-recourse loans to replace mortgage debt obligated by eight facilities on scattered sites across the Dallas-Fort Worth metroplex.
The source, a Yield PRO article published September 18, 2026, is the sole full-text evidence for this transaction. It quotes Holman-Gomez directly: "Cambridge determined the most efficient plan to finance, considering facility and location debt service needs and valuation." He added, "Avalon Memory Care required low-cost mortgage financing with efficient interest rates; Cambridge delivered what others wouldn't with mortgages including MIP at near 6% fixed for 35 years." The article also notes that Avalon Memory Care provides assisted living services to people with dementia, including Alzheimer's disease and other cognitive impairments, offering a variety of accommodation styles as well as medical and nutritional services and enrichment activities.
The transaction carries several sector implications. First, it demonstrates continued lender appetite for memory care assets in Texas, a state with significant senior housing demand. Second, the use of HUD Section 232/223(f) refinancing suggests operators are actively seeking to replace shorter-term or scattered debt with long-term, fully amortized, non-recourse structures. Third, the near 6% fixed rate for 35 years, including mortgage insurance premium, indicates that HUD-insured execution remains competitive for specialized senior housing despite broader capital markets volatility. Cambridge's scale—more than 500 closed transactions totaling more than $6.5 billion—positions it as a repeat HUD lender capable of structuring multi-property consolidations.
Several limitations apply to this analysis. The dossier contains only one secondary source, and no independent confirmation of the loan terms, property valuations, or borrower identity beyond a Texas limited liability company is available. The article does not disclose the individual facility addresses, the allocation of the $15,011,200 across the four Arlington properties, or the remaining balance of the $29.7M package. It also does not specify whether the eight scattered-site facilities referenced by Holman-Gomez are all Avalon Memory Care locations or include other assets. What to watch: whether Cambridge or the borrower discloses additional details on the remaining facilities, and whether similar HUD 232/223(f) consolidations accelerate among Texas memory care operators seeking long-term fixed-rate debt.