CAMBRIDGE CLOSES $1.62 MILLION SENIOR HOUSING LOAN IN ILLINOIS

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SHERMAN, ILL. — Cambridge Realty Capital Corp. has closed on a $1.62 million FHA-insured HUD first mortgage loan for Villa Vianney Apartments. Located in Sherman, the age-restricted senior housing property offers 54 units. According to Cambridge, the fully-amortized, 30-year loan refinanced 18 buildings at the property. Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites insured loans, used HUD's Section 207 pursuant to HUD Section 223(f) program. The borrower was the property owner, an Illinois-based not-for-profit corporation.

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