Cambridge Realty Capital Companies reports arranging a $11,600,000 HUD Lean loan to refinance Glenwood Healthcare and Rehabilitation, a 162-bed skilled care facility located in Glenwood, Illinois. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, 30-year loan was arranged for the owner, an Illinois limited liability company, using the HUD Section 232 pursuant to Section 223(f) funding program. 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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