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Cambridge Realty Provides $13M on Rogers Park SNF
Cambridge Realty Capital Companies has provided a $12,960,000 HUD Lean loan to refinance Alden Village North, a 150-bed skilled care nursing facility located in the North Side’s Rogers Park neighborhood.
Jeffrey A. Davis, Cambridge president, said the fully amortized, 38-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 Village North specializes in providing care for developmentally disabled individuals. Residents are provided with educational and vocational opportunities and programs based on age, needs and abilities. Alden Village North also offers day and respite programs. Various therapy programs are available to residents, including speech, occupational, physical and music therapy.
- ◦Financing

