The new mortgage is a 35-year HUD Section 232 insured loan, according to Cambridge Realty Capital. Located on four acres across the street from the Briarwood Country Club, the nursing home changed hands less than two years ago for $11.2 million. "The new ownership group…plans or has completed a variety of improvements aimed at positioning the facility as one of the premiere rehab center serving Chicago's affluent North Shore area," says Cambridge Realty Capital chairman Jeffrey A. Davis.
Earlier this year, Cambridge Realty Capital provided a $10.5-million mortgage to refinance the 273-bed Clark Manor nursing home at 7433 N. Clark St. in Chicago.
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