Cambridge Says $12.9M HUD First-Mortgage Loan Refinances 128-Bed Skilled Pediatric Facility in Chicago

CHICAGO, IL--Cambridge Realty Companies reports closing a $12.9 million FHA-insured HUD first mortgage loan that has refinanced Alden Village North, (top right photo)  a 128-bed skilled care pediatric facility in Chicago, IL.

Cambridge Chairman Jeffrey A. Davis (middle left photo)  said the fully amortized; 40-year-term loan was arranged for the property’s owner, an Illinois limited liability company.

The loan utilized HUD’s Section 232 MAP funding program and also covered rehabilitation costs.

Davis said the loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge subsidiary responsible for underwriting HUD Section 232 loans. The interest rate was not disclosed.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions.

 The company is one of the nation’s leading senior housing and healthcare debt and equity capital providers with more than 300 closed transactions totaling more than $3.0 billion since the early 1990’s, when the firm began its specialization in providing senior housing capital.

The firm also has embraced social media and networking via Twitter at http://twitter.com/cambridgecap , via Facebook at http://www.facebook.com/pages/Chicago-IL/Cambridge-Realty-Capital-Companies/19132944489, and via Linkedin at http://www.linkedin.com/companies/454232 , where information on the firm and its employees can be found.

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