Cambridge Realty Capital Companies reports arranging a $3,572,400 HUD MAP loan to refinance Millersville Manor, a Section 8, 122-unit elderly apartment building, located in Millersville, PA. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, 33-½ year loan was arranged for the owner, a Pennsylvania limited liability company, using HUD Section 207 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.
Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions. The company is one of the nation’s leading nursing home, assisted living and healthcare debt and equity capital providers, with more than 500 closed transactions totaling more than $4.6 billion since the early 1990’s, when the firm began its specialization in providing senior housing capital.
