Barber of Cambridge negotiates $4.5 million loan

Cambridge Realty Capital Cos. has arranged a $4.5 million FHA-insured HUD Lean first mortgage loan to refinance Summer Meadows, a 115-bed skilled nursing facility. Cambridge chairman Jeffrey Davis said the 29-year term loan was refinanced using the HUD Section 232 pursuant to Section 223 funding program. He said the loan was arranged for the property's owner by Cambridge national originations manager Hymie Barber. It was underwritten Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that underwrites HUD Section 232 loans.