CHICAGO, IL--An $8.6 million HUD Lean Loan arranged by Cambridge Realty Capital Companies has refinanced Centralia Manor (top left photo), a 120-bed skilled care nursing home in Centralia, Ill.
Chairman Jeffrey A. Davis (lower right photo) said the fully-amortized, 35-year term first mortgage loan was arranged for the owner, an Illinois limited liability company.
Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites FHA-approved HUD loans, used the HUD 232 pursuant to Section 223(a)(7) funding program to refinance the property.
The interest rate was not disclosed.
Contact:
Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611
E-Mail: ew@cambridgecap.com
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