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Chicago & Midwest  + Greater Chicagoland  + Finance  |  September 6, 2021
Alden Town Manor skilled nursing facility exterior Cicero IL
Paul Bubny
By: Paul Bubny

HUD Lean Loan Refis SNF in Cicero

Cambridge Realty Capital Companies provided 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. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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