Cambridge Replaces Bridge Loan at Illinois Skilled Nursing Facility

Cambridge Realty Capital Companies returned to Glenview, Illinois to retire the original bridge loan it provided for a 144-bed skilled nursing facility with a HUD refinance. The previous financing, consisting of a $20 million bridge loan and a $1 million asset-based loan, was provided in November 2017 to an Illinois LLC to acquire the facility, which provides skilled nursing, wound, colorectal and respite care, along with a Progressive Supranuclear Palsy support group.

Now, just 13 months later, Cambridge is refinancing the facility with a $21.2 million HUD loan, with a 35-year term.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *