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Chicago & Midwest  + Greater Chicagoland  + Senior Housing  |  April 23, 2024
Jasmine Kilman
By: Jasmine Kilman

Cambridge Realty Capital Provides Refi on IL Assisted Living Facility

Cambridge Realty Capital provided a $15.52 million HUD Lean loan to refinance The Pointe at Eastgate, an assisted living facility located in Algonquin, Illinois.

Brent Holman-Gomez, Cambridge Senior Vice President, reported that the fully-amortized, 35-year loan was provided for the owner, an Illinois limited liability company, using HUD Section 232 pursuant to Section 223(f) 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.

The Pointe at Eastgate is an assisted living facility for seniors 65 and older, and the property offers private apartments and a variety of services. Privately owned since 1983, Cambridge Realty Capital has national origination offices in Chicago and Los Angeles and provides FHA-insured HUD loans and conventional mortgage financing.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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