CAMBRIDGE REALTY CAPITAL PROVIDES $90.6 MILLION FOR REFINANCE

CHICAGO — Cambridge Realty Capital Cos. has provided $90.6 million in HUD-insured Section 232 loans to refinance a 10-property portfolio of intermediate and skilled care nursing facilities located in the Chicagoland. The 10 loans were closed and funded simultaneously to accommodate the payoff of a single credit facility. Loans for the individual properties range in size between $3.1 million and $14.8 million; terms for the fully amortizing loans range between 27 and 35 years. The first-mortgage loans were arranged for an Illinois limited liability company, and were underwritten by Cambridge Realty Capital Ltd. of Illinois. The properties include: Southview Manor and Community Care Center in Chicago; the West Chicago Terrace; Frankfort Terrace; Crestwood Terrace; Kankakee Terrace; Bourbonnais Terrace; Joliet Terrace; The Terrace of Waukegan; and Sycamore Terrace of Quincy.