Wednesday, February 17, 2010

Cambridge Closes $11.8M HUD First Mortgage Loan for St. Anthony's Nursing and Rehabilitation Center in Rock Island, IL


Cambridge Realty Capital Companies reports closing an $11.9 million FHA-insured HUD first mortgage loan to refinance St. Anthony’s Nursing and Rehabilitation Center, (top left photo) a 154-bed skilled nursing and board and care facility in Rock Island, IL.

Cambridge Chairman Jeffrey A. Davis (bottom right photo)  said the fully amortized, 40-year term loan was arranged for the owner, an Illinois limited liability company. and included funds for rehabilitation costs.

It was underwritten by Cambridge Realty Capital Ltd. of Illinois utilizing HUD’s Section 232 MAP funding program.

According to Davis, St. Anthony’s has 130 skilled care and 24 board and care beds.

Contact:  Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com

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