Cambridge Finances New Nursing Home Projects

OTTAWA, Ill. — Cambridge Realty Capital announced has closed on a $15.3 million, 40-year term loan to finance the construction of the Ottawa Pavilion, a 129-bed skilled care nursing home in Ottawa, Ill.

The Illinois-based Cambridge is a limited liability company that underwrites FHA-insured HUD loans for its property owners. The fully-amortized loan was processed using HUD’s Section 232 funding program. The loan’s interest rate was not made public.

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