Cambridge Realty Capital Companies reports providing a $12,036,800 HUD Lean loan to refinance Alden Alma Nelson Manor, a 270-bed skilled nursing care facility located in Rockford, IL. Jeffrey A. Davis, Cambridge President, said the fully amortized, 35-year loan was provided for the owner, an Illinois limited liability company, using the HUD Section 232 pursuant to Section 223(a)(7) funding program, which is used to refinance existing HUD loans. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.
Alden Alma Nelson Manor provides short-term rehabilitation and living for those recovering from illness or surgery. It offers semi-private and private suites with ensuite restrooms and private showers and in-room flat-screen TVs. Medical services include orthopedic, cardiac, pulmonary, and neuro-stroke rehabilitation, behavioral health, and on-site dialysis. Skilled care is available 24 hours per day.
