Cambridge Realty Capital Companies reports providing a $12,722,300 HUD Lean loan to refinance Alden Town Manor, a 249-bed skilled care nursing facility located in Cicero, 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 Town Manor is a skilled nursing facility and offers a wide range of healthcare services and programs, including orthopedic, cardiac, pulmonary, and neuro-stroke rehabilitation as well as short-term rehabilitation, on-site dialysis, and medically complex care. Alden Town Manor is one of several facilities under the Alden umbrella in the Greater Chicago area.