CHICAGO, IL--Cambridge Realty Capital Companies has provided a $9.04 million HUD Lean loan to refinance Brittany House (top left photo), a 126-bed assisted living facility in Long Beach, Calif.
Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 34-year term loan was coordinated by National Originations Manager Hymie Barber (lower right photo) for the property’s owner, a California limited liability company. Underwriting was by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites FHA-insured HUD loans.
The lender used the HUD Section 232 pursuant to Section 223(f) funding program to refinance the loan. The interest rate was not disclosed.
Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender/borrower relationship and identify “ideal” capital solutions for worthy projects. The company has a national origination office in Los Angeles, and numerous correspondent and brokerage relationships nationwide.
Cambridge publishes the bi-monthly e-PULSE!(R) electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients. Additional information is available on the Cambridge website, www.cambridgecap.com, and Cambridge can be reached at (312) 357-1601 or via e-mail to info@cambridgecap.com.
Contact:
Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611
No comments:
Post a Comment