Cambridge Realty Capital Companies reports providing an $11,977,000 HUD Lean loan to refinance Alden Lakeland, a 300-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 Lakeland specializes in short-term rehabilitation, transitional care, and post-acute services. It offers four exclusive medical care programs: OrthopedicPro™, CardioPro™ PulmonaryPro™, and NeuroStrokePro™. It provides 5-star accommodations and amenities for its residents.