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Cambridge Provides $12MM HUD Loan to Refinance Alden Village North

August 11, 2021, 07:00 AM
Filed Under: Skilled Nursing

Cambridge Realty Capital Companies provided a $12,960,000 HUD Lean loan to refinance Alden Village North, a 150-bed skilled care nursing facility located in Chicago, IL. 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.
Privately owned since 1983, Cambridge today has three distinct business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions. The company is one of the nation's leading specialized senior housing and healthcare debt and equity capital providers, with more than 500 closed senior housing transactions totaling more than $5.5 billion.

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