Cambridge Realty Capital Companies reports arranging a $10,372,300 HUD Lean loan to refinance a 92-bed assisted living/memory care/independent living facility located in East Northport, NY. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, 26-year loan was arranged for the owner, a New York limited liability company, using the HUD Section 232 pursuant to Section 223(f) funding program, which is used to refinance existing loans. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
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