CHICAGO, IL--Cambridge Realty Capital Companies reports closing a $13.6 million FHA-insured HUD Lean loan to finance the construction of Alden Estates of Shorewood, a 100 -bed skilled care nursing home in Shorewood, Ill.
Cambridge Chairman Jeffrey A. Davis (top right photo) said the HUD Section 232 funding package included both new construction and a fully-amortized 40-year permanent mortgage loan.
The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites HUD loans.
The borrower is an Illinois limited liability company. The interest rate was not disclosed.
Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611
E-Mail: ew@cambridgecap.com
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