Cambridge Realty Capital Provides $15.3 Million HUD Loan to Finance Construction of Ottawa, IL Skilled Nursing Facility

CHICAGO, IL--Cambridge Realty Capital Companies reports closing on a $15.3 million loan to provide new construction and permanent financing for Ottawa Pavilion (top left photo), a 129-bed skilled care nursing home in Ottawa, Ill.

Cambridge Chairman Jeffrey A. Davis (lower right photo) said the 40-year term loan was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites FHA-insured HUD loans.

The fully-amortized loan was processed using HUD’s Section 232 funding program. The interest rate was not disclosed.

  

Contact:

Evan Washington

Phone: (312) 521-7604

Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com