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Brokerage
Posted: October 7, 2011
Cambridge provides $8.6 million HUD Lean Loan
An $8.6 million HUD Lean Loan arranged by Cambridge Realty Capital Cos. has refinanced Centralia Manor, a 120-bed skilled care nursing home. Chairman Jeffrey Davis said the fully-amortized, 35-year term first mortgage loan was arranged for the owner.
Cambridge used the HUD 232 pursuant to Section 223(a)(7) funding program to refinance the property. The interest rate was not disclosed.
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