Cambridge Realty Capital Companies has closed on a $4.68 million FHA-insured HUD LEAN loan for Transcendent Healthcare of Boonville, a 72-bed skilled nursing home in Boonville, Indiana.
Cambridge Chairman Jeffrey A Davis said the fully amortized, 27-year term loan was arranged for the owner, an Indiana limited liability company.
Cambridge Realty Capital Ltd. of Illinois, the Cambridge affiliate responsible for underwriting insured healthcare loans, closed the transaction using HUD’s Section 232 LEAN program.
Davis said the loan was processed in the “Green Lane,” a special queue created by HUD to speed the underwriting process for low-risk loans.
Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com
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