Even after shopping around for a HUD loan provider, borrowers keep coming back to Cambridge Realty Capital. It is something that Cambridge Founder and President Jeffrey Davis has seen time and again over Cambridge’s thirty-plus years in business. Shopping around is prudent and makes sound business sense. But as it turns out, “Cambridge is often able to make complicated deals happen even when other institutions say ‘no,'” Davis contends.
This is not to discourage shopping around. “Sometimes we are the best choice, sometimes we aren’t,” Davis goes on to say. However, for many of Cambridge’s clients, Cambridge was the clear winner for their needs.
One such satisfied client was Denny Howell, Founder and CEO of Howell Investment Finance in Ames, lowa. Howell’s company was looking for refinancing for two upscale senior facilities for its client, The View’s Holdings, LLC, owner of Meadow View Memory Care and Ridge View Assisted Living in Cedar Rapids, Iowa. Howell sought proposals from several different lenders, but “[Cambridge] was the obvious winner; it wasn’t even close. Cambridge kept coming back to us with the answers we were looking for,” Howell stated.
Another satisfied “shopper” is Scott Pilgrim, CEO of the Diakonos Group LLC of Bixby, Oklahoma. Diakonos specializes in purchasing underperforming healthcare facilities and rehabilitating them into profitable enterprises. Pilgrim’s company was looking to refinance two assisted living facilities and two skilled nursing homes it had recently purchased and so it began comparing lenders.
One of the things that impressed Pilgrim about Cambridge was the time and diligence it put in to really studying Diakonos’ history and the circumstances of the purchase of the four properties. Pilgrim worked closely with two Cambridge staff members: Managing Director Sampada D’silva and Senior Vice President Brent Holman-Gomez. “I was especially impressed by the expertise and professionalism exhibited by the Cambridge staff. The company has a strong service ethic and, like Diakonos, a commitment to making things turn out well for everyone involved in the transaction,” recounts Pilgrim. That service ethic particularly resonated with Pilgrim because it mirrored his own company’s commitment to service, evidenced by its name: “Diakonos” is Greek for “service.” In the end, though, it all came down to who could deliver. “We kept pulling strings to see which of the offers received came with a ball of yarn,” Pilgrim says. “Cambridge was the clear winner.”
Andrew Delman, owner of National Preservation Housing Partners, was drawn to the candidness of Cambridge staff members Andrew Erkes, President and Anthony Merino, Vice President. Delman was in the market for a HUD loan when he approached Cambridge. “The company doesn’t promise what the borrower wants to hear but what it can get done,” he asserts. This is in stark contrast to some lenders who string borrowers along, put up hoops to jump through and then, after all of this, come back with a denial.
Delman goes on to share what he believes Cambridge’s edge is when it comes to HUD lending. “When working with Cambridge the profit and fee structure is transparent. And the company has experience and knowledge with the HUD product that is second to none.” He adds, “The underwriting complexities can be especially challenging because of the stringent criteria involved when combing more than one federal program. Cambridge is my first choice in any FHA financing because the company can be relied upon to find solutions for whatever problems arise.”