CHICAGO, IL--Cambridge Realty Capital Companies has provided a $12.6 million FHA-insured first mortgage loan to fund the purchase of Hawthorne Inn of Danville (top right photo) , a 140-bed skilled nursing/ board and care facility in downstate Danville, Ill., Chairman Jeffrey A. Davis (bottom left photo) announced.The fully-am
ortized, 35-year term mortgage was arranged for the purchaser, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that underwrites FHA-insured loans.
ortized, 35-year term mortgage was arranged for the purchaser, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that underwrites FHA-insured loans. The purchase was funded using the HUD Section 232 pursuant to Section 223(f) funding program.
Davis said the property has 64 skilled nursing and 76 board and care units. Interest rate for the loan was not disclosed.
Contact: Evan Washington, Phone: (312) 521-7603. Fax: (312) 357-1611
E-Mail: ew@cambridgecap.com
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