Cambridge provides $24.2 million FHA loan

Cambridge Realty Capital Cos. has provided a $24.2 million FHA-insured permanent mortgage loan to refinance Maple Point Apartments, a 342-unit independent living senior housing community. Cambridge chairman Jeffrey Davis said the HUD section 207 pursuant to section 223(f) loan was arranged for the property's owner, a not-for-profit corp. The fully amortized, 35-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois.