Cambridge Provides $5.2 Million FHA-Insured HUD Lean Loan to Refinance Lakeland Rehabilitation Center in Effingham, IL

CHICAGO, IL--Cambridge Realty Capital Companies has provided a $5.2 million HUD Lean loan to refinance the Lakeland Rehabilitation and Healthcare Center (top left photo) a 133-bed skilled nursing facility in Effingham, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 30-year term first mortgage loan was arranged for the property’s owner, an Illinois limited liability company, using the HUD Section 232 pursuant to Section 223(f) funding program.

Underwriting the loan was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans. The interest rate was not disclosed.

Contact:

Evan Washington

Phone: (312) 521-7604

Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com