Cambridge Realty Capital has provided $43,360,100 in HUD-insured Section 223(f) financing for four senior housing properties located in Illinois, Washington, and Iowa.

According to Cambridge’s Managing Director Tony Marino, the Illinois transactions consisted of two affordable rental apartment properties for seniors totaling 196 units located in Chicago, Illinois.

The Washington transaction was provided to South Pointe, a 42-bed assisted living facility located in Everett. The Iowa financing was provided to Gardens of Cedar Rapids, a 112-bed facility in Cedar Rapids that offers skilled care, assisted living, and memory care services.

Cambridge’s early rate lock program was utilized, which allowed the owners to lock rates before all HUD approvals were obtained. This enabled each borrower to mitigate risk associated with rising interest rates and contributed to a more predictable and efficient HUD execution, including assurance that the financings included sufficient funds to complete long-term repairs and improvements.

Register Today to “Be in the Room” when Michael Brennan receives Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!