Cambridge Realty Capital has provided more than $52.2 million in HUD-insured Section 223(F) financing for three affordable multifamily properties in Kentucky and Illinois.
The Kentucky transaction consisted of two senior housing facilities totaling 214 rental units in Florence, Kentucky. The Illinois transaction was for a 320-unit affordable rental community in Chicago Heights, Illinois.
Cambridge’s early rate lock program was utilized, which allowed the owner to avoid the run-up in interest rates at a fixed cost and secure the underwritten loan amounts, without reduction caused by changing market conditions.
The borrowers were Illinois-based and are long-term Cambridge clients.
