Cambridge Realty Capital is always on the lookout for new financial institutions and lenders to forge joint ventures with, says Cambridge President Jeffrey Davis. In fact, he adds, “A variety of different banks and lenders, including those who are active nursing home lenders, seek us out on a continual basis,” pointing out that finding ways to work together rather than simply competing is a win-win-win situation for everyone involved: Cambridge, partnering lenders/institutions and the borrower.
Cambridge Realty Capital has been in business since the mid-1980s when it was initially founded as a general commercial real estate lender. Within a few years, Cambridge was able to become an accredited HUD lender and quickly developed a reputation as a premier senior housing and healthcare HUD 232 loan specialist.
Today, Cambridge is well-known throughout the US for its expertise in the senior housing market as well as its extraordinary commitment to its clients. In addition to HUD 232 funding, Cambridge Realty Capital also provides conventional and bridge loans and is heavily involved in principal acquisitions within the senior living real estate market.
Early in its operation, Cambridge developed its original, proprietary Signature Experience™, a four-step method that helps Cambridge quickly identify a client’s needs and assess qualifications, ultimately streamlining the loan inquiry and application process for the client. “Our strong, quality professional partnerships play a very significant role in our ability to efficiently determine whether an individual client qualifies for funding and how much they will be able to obtain and at what rate,” Davis emphasizes. “We wouldn’t have been able to develop and refine this process without our partnering lenders and institutions.”
Throughout the years, Cambridge has fielded a myriad of inquiries from lenders, investors and institutions of all sizes about the benefits of working together. “Cambridge is regularly approached by different financial institutions for different types of strategic relationships. They are intrigued with Cambridge’s different programs and how they can work together, including how combining Cambridge’s unique expertise in HUD financing and their own balance sheet lending to create a concept of 1 + 1 = 5 can help their balance sheet lending be even more competitive.” Davis points to one of its current partners to illustrate, a $150 billion-dollar multinational bank that came to Cambridge and was intrigued by Cambridge’s HUD financing and how it might make their conventional lending even more competitive.
One of Cambridge’s newest ventures is an equity program of preferred equity for a variety of different types of senior housing properties, including age 55 and over, independent living, assisted living and memory care. “Cambridge has been investing significant time, energy and resources in developing this program. We are having different conversations with various institutional partners and hope to have something in place over the next 90 days.” Davis envisions uses for these funds that would include partner buyout, slow lease-ups, debt paydowns, recapitalizations, and other types of opportunities looking for capital as well as retaining the majority of the equity. The average deal size ranges from $7,500,000 – $10,000,000 of equity.
Cambridge invites anyone with inquiries or comments about opportunities for partnerships to contact us via our website, www.cambridgecap.com, or by calling our main phone number, 312-357-1601.
