Cambridge Provides $10.4M HUD-Insured Loan for Refinancing of Assisted Living Campus in Iowa

by Kristin Harlow

BURLINGTON, IOWA — Cambridge Realty Capital Cos. has provided a $10.4 million HUD Lean loan for the refinancing of Oakview Nursing and Rehabilitation and Ridgeview Assisted Living, a dual-facility campus also known as The Views of Burlington. Situated in Burlington, a city in Southeast Iowa, the campus features 60 skilled nursing beds and 42 assisted living beds. Andrew Erkes of Cambridge originated the 35-year loan, which features a 35-year amortization schedule. The borrower was an Iowa-based limited liability company. Denny Howell of Howell Investment Finance arranged the loan.

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