Ben Parsons, General Counsel and Vice President of Continuing Healthcare Solutions of Ohio, says Cambridge Realty Capital staff members were “readily available” throughout a recent deal. The entire process took about nine months and involved obtaining three HUD Lean loans for three separate properties.
Parsons worked closely with Cambridge Vice President Anthony Marino and Managing Director Sampada D’silva throughout the duration of the deal. It was a unique collaboration between Cambridge Realty Capital Companies’ two business units, Cambridge Realty Capital, LLC and Cambridge Realty Capital Ltd. of Illinois, which worked with both the seller and the buyer, Continuing Healthcare. Continuing Healthcare had already leased the three properties and been acting as operator, with the long-term goal of owning all three Ohio-area properties.
It was the first time Parsons and Continuing Healthcare had worked with Cambridge, and Parsons was exceptionally pleased with how all of the details came together. “They [Cambridge] were uniquely responsive and organized, and they pulled everything together,” said Parsons.
Marino, D’silva and Cambridge Chairman Jeffrey Davis were always “readily available” when the need to communicate arose. However, there were no real glitches or unexpected problems during the nine-month process. When questions did come up, Parsons recounted, “they did a great job troubleshooting.”
Parsons attributed the relatively smooth progress of the HUD loan applications to Cambridge’s wealth of experience, problem-solving approach, and planning. “They did a thorough job of preparing us for what was coming. Everything happened just as we expected,” Parsons noted. “We were satisfied with the time frame in which the whole thing came together.” When asked if he would work with Cambridge again in the future, he answered, “absolutely.”
