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CHICAGO-Two southwest suburban nursing homes, with a combined 523 beds, have been refinanced for $37.1 million. Both were 35-year HUD Section 232 deals, which can be used to refinance nursing home loans not previously insured by HUD, according to Cambridge Realty Capital Cos.

The larger loan, $20.8 million, refinances the 225-bed Meadowbrook Manor of Bolingbrook at 431 Remington Blvd. The 298-bed Meadowbrook Manor skilled-care facility at 720 Raymond Dr. in Naperville was refinanced for $16.32 million.

Both refinancing deals replace separate $11.5-million loans from American National Bank & Trust.

The Naperville property was acquired from the Resolution Trust Corp. in 1992 for $280,000, according to property records.

Both properties are owned by an Illinois limited partnership.

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