CHICAGO, IL--Cambridge Realty Capital Companies reports closing an $8.6 million FHA-insured HUD Lean mortgage loan for Apple Valley Christian Care Center (top left photo) , a 99-bed skilled-care nursing facility in Apple Valley, Calif.
Cambridge Chairman Jeffrey A. Davis (middle right photo) said the fully-amortized, 28-year term loan was arranged for the owner, a California not-for-profit corporation, using HUD‘s Section 232 pursuant to Section 223(f). The interest rate was not disclosed.
Underwriting the loan was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites HUD loans.
The transaction was coordinated by National Origination Manager Hymie Barber and was processed in the “Green Lane,“ a special queue created by HUD to more swiftly process low-risk loans. Interest rate for the loan 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.
Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com
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