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Posted: May 10, 2010
Cambridge closes $11.9 million HUD first mortgage for St. Anthony's facility
Cambridge Realty Capital Companies closed an $11.9 million FHA-insured HUD first mortgage loan to refinance St. Anthony's Nursing and Rehabilitation Center, a 154-bed skilled nursing and board and care facility.
Cambridge chairman Jeffrey Davis said the fully amortized, 40-year term loan was arranged for the owner and included funds for rehabilitation costs. It was underwritten by Cambridge Realty Capital Ltd. of Illinois utilizing HUD's Section 232 MAP funding program. St. Anthony's has 130 skilled care and 24 board and care beds.
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