Cambridge Realty Capital Companies reports arranging a $12,513,000 HUD Lean loan to refinance The Ponds of Wealshire Assisted Living facility located in Lincolnshire, IL. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, 35-year loan was arranged for the owner, an Illinois limited liability company, using 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.
The Ponds of Wealshire is a 141-bed assisted living facility. The facility provides rehabilitation services, respite care and progressive memory care.