Cambridge Realty Capital Arranges $15.3 Million HUD Loan to Finance Nursing Facility in Illinois

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

Cambridge Chairman Jeffrey A. Davis 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.

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 info@cambridgecap.com.

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