Time is money, no matter what business you are in, and that includes senior living and healthcare. Cambridge Realty Capital knows that saving a client’s time means they are helping them save money, and it is a commitment that Cambridge takes seriously when it comes to the expedient processing of loan applications. In fact, it is one of the reasons that Cambridge developed its “Signature Experience,” a four-point process designed to significantly streamline the loan process. In reality, the Signature Experience is not just a system; it is also a mission. “Our Signature Experience guides us in every single conversation and interaction that we have with our clients,” says Cambridge Chairman Jeffrey Davis. “From the first meeting with an applicant to the closing of the loan, we are always fully cognizant of delivering on our Signature Experience.”
The Signature Experience formula was tailored to quickly identify an applicant’s needs, provide the applicant with the best option or range of options in loan products and to address concerns and questions early in the process. “The entire process of obtaining a loan, whether HUD, conventional or bridge, may take anywhere from a few months to a year or so,” notes Davis, “so whatever we can do to accelerate it makes a difference in the client’s ability to efficiently meet its own obligations and deliver its services to its own clients.”
This commitment is one that Josh Jandris, Senior Managing Director, Investments of the Institutional Property Advisors’ Senior Housing Group at Marcus & Millichap, has experienced firsthand. Marcus & Millichap is a multinational commercial real estate brokerage company with more than 80 offices in the USA and Canada and headquartered in Chicago, IL. Jandris is one of a number of Marcus & Millichap staff members who have worked with Cambridge on various senior housing and healthcare projects. “Many lenders ask you to do a lot of paperwork up front, but still aren’t able to deliver in the end,” Jandris states. “With Cambridge, it’s not an ‘iffy’ thing. You get an accurate assessment quickly and know that if you satisfy the requirements you’ll get the desired result.”
In fact, Cambridge and Marcus & Millichap have more than headquarters located on the same street in common. Cambridge has worked with other Marcus & Millichap staff, including Senior Managing Director Mark Myers, on various projects over the years. Davis holds Marcus & Millichap in high regard for its professionalism and experience. “We have developed a good rapport with Marcus & Millichap. They are trustworthy, professional and they know the [senior living] market,” he asserts. Myers is equally appreciative of Cambridge’s grasp of the market, contending that Cambridge has “the perfect trifecta of access to capital with an unlimited amount of funding available for projects targeted by Cambridge Investment and Finance (Cambridge’s acquisition arm), extraordinary financial acumen and exceptional deal-making instincts. Although it’s not unheard of, it is rare to work with investors who shine in all three areas.”
Other Cambridge clients agree that they have felt that their time and schedule have been respected during the financing process. “The Cambridge staff is very aware of timing issues, very instructive and very responsive,” comments Andrew Delman, President of National Preservation Housing Partners in Deerfield, IL. “And they produced for us what they said they would.” Manny Binstock, former Senior Vice President of The Kensington Group of Morton Grove, IL, notes: “Brokers often need to chase after buyers and sellers without knowing what they (the buyers and sellers) are thinking. With Cambridge there’s not a lot of suspense. You’ll know very quickly if something is go or no-go. And, once engaged, you never need to remind the company about deadlines.” Binstock adds, “Our contacts at the firm are exceptionally friendly and honest and get back to us quicker than anyone in the industry.”
This is not to say that Cambridge won’t take the time to listen or explain things in a way that clients can understand. “The amount of personal attention the staff devotes to addressing and meeting client needs is greater than I’ve observed elsewhere,” says Karl Volkman, Founder and Chief Technology Officer at Chicago’s SRV Network, Inc. Blueprint Health Care Real Estate Advisors Managing Director Jacob Gehl echoes that sentiment: “They’re willing to meet with clients at any time to go over things so there will be no confusion.”
