The current precarious economic climate has rendered some significant changes in the capital markets over the last year. As a result, says Zach Scardina, Cambridge Realty Capital Originator and Vice President, “We are seeing many owners that are out of compliance with their lenders and now face a time crunch to secure new financing in a tighter lending environment.” This is causing many owners to reconsider previous financing strategies as they are forced to think outside the box. “Owners are in a vulnerable position right now,” Scardina stated.
Additionally, some conventional lenders are skittish about providing new financing to senior living and skilled nursing owners due to the unknowns facing the industry. It’s a perfect storm of a situation for owners who would rather be spending their time focusing on their communities than cold-calling lenders.
Scardina urges owners who are finding themselves a casualty of the perfect storm of circumstances to consider partnering with Cambridge. “Don’t approach your financing needs alone,” Scardina stated. “We recommend teaming up with a lender with relevant experience in closing deals throughout various economic cycles.”
Cambridge has a proven track record of dedication to helping its borrowers close loans during times of uncertainty. “Cambridge offers creative solutions thanks to its access to a diverse group of lenders who understand the industry and, specifically, the various cycles that it goes through. Our difference-maker is our ability to leverage our extensive lending network to secure the best loan for our borrowers. Depending on the specific needs of the borrower, we can confidently match their deal with the lenders who are actively making new loans in this market.”
Cambridge recognizes that the current economic and industry conditions, whatever they may be at any given time, are always only one part of a bigger picture that is constantly unfolding. Says Scardina “Our experience allows us to see beyond what is happening today and create partnerships that are future-focused and mutually beneficial for all stakeholders, including the communities we serve.”
