Cambridge Realty Capital Companies reports providing a $7,836,900 HUD Lean loan to refinance Alden Princeton Rehabilitation and Health Care Center of Chicago, IL, a 225-bed skilled care nursing facility located in Chicago, IL. Jeffrey A. Davis, Cambridge President, said the fully-amortized, 40-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 Princeton Rehabilitation and Health Care Center is a skilled nursing facility and offers a wide range of healthcare services and programs, including orthopedic, cardiac, pulmonary, and neurorehabilitation as well as short-term rehabilitation, memory care, behavioral health, and medically complex care. Alden Princeton is one of several facilities under the Alden umbrella in the Chicago area.