Cambridge Realty Capital Companies reports providing a $24,631,000 HUD-Insured loan to refinance Rainbow Beach Nursing Center, an intermediate care nursing facility located in Chicago, Illinois. Jeffrey A. Davis, Cambridge Chairman, said that a fully-amortizing, 29-1/2 year term loan was issued to the owner, an Illinois limited liability company. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
Rainbow Beach Nursing Center is a 211-bed facility devoted to intermediate nursing care.
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