Navigating the waters of the loan market, with all of its unique and idiosyncratic terminology plus its myriad of options and products, is daunting enough for those in the senior living business. Imagine you are a senior living owner or operator who is now trying to convey this information to a lay board of directors or other advisors, some or all of whom may not necessarily have a professional background in senior living or healthcare. Finally, critical points can sometimes get lost in translation, making it difficult to sell the idea of financing a purchase or facility upgrade.
It is an issue that Manny Binstock is familiar with. Binstock is the former Senior Vice President of The Kensington Group of Morton Grove, IL. “If you ever find yourself in the awkward situation of trying to explain complex senior housing funding issues to a [lay] nursing home board of directors, it’s nice to know there’s someone [at Cambridge] you can call on to handle this chore who’ll not let you down,” declares Binstock.
One of the reasons Cambridge is able to speak the language of its clients is its ongoing connection to its roots. Its founder, Jeffrey Davis, is Cambridge’s Chairman and CEO and remains hands-on with clients in addition to leading the company. President Andrew Erkes is also one of Cambridge’s original leaders. Both Davis and Erkes know what it’s like to learn about an industry and market from the ground, up, and neither has strayed far from their entrepreneurial roots.
“Clear communication is central to establishing rapport with clients,” says Davis, and establishing rapport is the bridge to building relationships with clients as well as with other stakeholders. In fact, building relationships is part one of the Signature Experience, a model designed by Cambridge to guide clients from the inquiry stage of seeking financing to the closing of the deal. Davis, Erkes and the rest of the staff at Cambridge possess both the technical skills necessary to makes deals happen, as well as the ability to communicate information clearly, succinctly and without a lot of inner circle industry jargon.
Cambridge’s clients often comment on Cambridge’s competence when it comes to taking complex technical language and legalese, breaking it down and conveying it coherently, logically and in a manner that it is easily understood by all. “With Cambridge there is mutual respect and straightforward answers to any questions we might have,” says Jacob Gehl, Managing Director at Blueprint Health Care Real Estate Advisors in Chicago. As for his experience working with Cambridge, Eric Rothner, CEO of Hunter Management, LLC of Evanston, IL, had this to say: “The Cambridge staff is very patient with borrowers. If you provide Cambridge with timely and accurate information, the company will guide you through the process.”
