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Cambridge Realty Capital Companies reports arranging a $22,267,500 HUD Lean loan to finance The Views Senior Living at Marion, a 112-bed skilled nursing care facility, located in Marion, Iowa. Jeffrey A. Davis, Cambridge Chairman, said the fully-amortized, non-recourse, 22-month construction loan term plus 40-year permanent loan term was arranged for the owner, an Iowa-based operator, using HUD Section 232. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans. “We were able to obtain a very low, fixed-rate loan for the entire duration of loan term, with only one rate-lock and rate locked prior to initial closing,” Davis stated. “Not only that, but the loan is fully-assumable in the event that the borrower chooses to exit the facility.”
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