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ALGONQUIN, Ill. — Cambridge Realty Capital Cos. has provided a $15.5 million HUD Lean loan to refinance The Pointe at Eastgate in Algonquin, approximately 45 miles northwest of Chicago.
The borrower is a limited liability company in Illinois.
The community is an assisted living community that specializes in the transition between independent living and skilled nursing. The undisclosed number of units are all private.
Brent Holman-Gomez led the financing for Cambridge. The loan features a fully amortizing, 35-year term.