Cambridge Realty Capital Companies reports closing on a $7.4 million FHA-insured HUD LEAN loan for Ebenezer Primm Towers, a 107-unit senior independent living apartment community in Evanston, Ill.
Chairman Jeffrey A. Davis said Cambridge Realty Capital Ltd. of Illinois, the company’s HUD underwriting business, used HUD’s Section 232 (a)(7) funding program for borrowers refinancing an existing HUD loan. The fully-amortized, 40-year term loan was arranged for the property’s owner, an Illinois corporation. 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 email@example.com.