PulsePoints

Cambridge Chairman Jeffrey A. Davis will participate in a panel discussion on healthcare finance during the annual HCap (Healthcare Capital) Conference scheduled December 7-9 at the JW Marriott Hotel in Washington, D. C.

In the session five panelists are slated to discuss Healthcare Finance 202: A CEO Primer. Joining Mr. Davis on the Dec. 8 panel will be Tim Ashe, Frazzi Associates; David Allen, NXT Capital; Greg Pachus, Silicon Valley Bank; and Mark O’Brien, Gemino Healthcare Finance.

HCap is a national venue for healthcare providers and capital to meet, do business and learn about policy and entrepreneurial trends. Conference participants gain insights from policy insiders and visionaries on big picture trends affecting the entire healthcare system.

“The conference provides an opportunity for conference participants to meet leading players and strengthen access to capital. Participants network with CEOs and CFOs from other healthcare provider segments.” Mr. Davis said.

Keynote speaker for the HCap Conference will be Congressman Paul Ryan (R-WI), Chairman of the House Budget Committee. Rep. Ryan will discuss the controversial “premium support plan” he believes will transform Medicare into a more economically sustainable model.

Cambridge Realty Capital Companies has arranged a $4.4 million HUD Lean first-mortgage loan to refinance the Highland Nursing and Rehabilitation Center, a 162-bed skilled nursing home in Kansas City, Mo.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 30-year term loan was arranged for the borrower, a Missouri limited partnership. Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-approved loans, used HUD’s Section 232 pursuant to Section 223(a)(7) program to close on the property.

The interest rate was not disclosed.

Cambridge Realty Capital Companies has closed on a $2.48 million HUD Lean first-mortgage loan to refinance Fair Oaks Nursing and Rehab Center, a 78-bed skilled nursing home in South Beloit, Ill.

Cambridge Chairman Jeffrey A. Davis says the fully-amortized, 30-year term first-mortgage loan was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-approved HUD loans. The property was refinanced using the HUD Section 232 pursuant to Section 223(f) funding program. The interest rate was not disclosed.

As you may have read through our tweets (@cambridgeintern) about today’s historically low interest rates, Cambridge has been encouraging you to think about refinancing. If you have an existing HUD healthcare loan, you can save big and improve the quality of your facility if you take advantage of these rates.

The process is much more uniform and user-friendly than it used to be, thanks to HUD Lean. And HUD’s 223(a)7 program provides a way to get these existing loans that are beyond the lockout period into the refinance queue so borrowers can take advantage of the low rates now.   Healthcare property owners can refinance the full, original loan amount, which makes additional funds available to use for capital improvements to the property.

HUD loans still require borrowers and lenders to provide the right documents and meet all the required loan criteria.  But for borrowers who have been through the process once already, this should be a lot easier.  So it makes sense for healthcare owners to talk to us, since we are an FHA-approved HUD lender, to learn how refinancing your existing loans can put more money into your pocket.

Cambridge Realty Capital Companies has closed on a $9.06 million HUD Lean first-mortgage loan for Seminary Manor, a 121-bed skilled care nursing home in Galesburg, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 35-year term loan refinanced the not-for-profit property for the owner, an Illinois limited liability company. Underwriting for the loan was Cambridge Realty Capital Ltd. of Illinois, the FHA-approved Cambridge business that specializes in underwriting HUD loans.

The property was refinanced using the HUD Section 232 pursuant to Section 223(a) 7 funding program. The interest rate was not disclosed.

With our hot pretzel order underway for the biggest senior housing and healthcare deal-making conference of the year, we want to remind you to give us a call today to schedule a time to meet and greet us during NIC, being held September 21-23 at the Waldman Park Hotel in Washington D.C.

Cambridge is seeking to strengthen relationships during the conference. We don’t want you to miss the opportunity to talk to us in person about how we can help you save money in the midst of financial strains. Cambridge’s experienced team will be gathered in our private meeting room suite, waiting with coffee, tea and snacks, ready to discuss your senior housing and healthcare financing projects. Get in touch with us today to set up your meeting!

While it has been difficult for lenders to provide funding for new construction, refinancing existing facilities has proven to be quite beneficial for borrowers in the senior housing industry, due to historically low interest rates and government service entity funding options such as HUD, which provide very favorable terms to qualified borrowers.

Since experience varies between senior housing operators, knowing the basic steps Cambridge takes to close a deal can be very helpful. We ask that our clients provide us with some necessary information to determine whether or not we can proceed with a transaction.  On our website, clients can utilize our InfoCenter to find Information Request Forms and Checklists tailored specifically to the programs we offer.

Once submitted, the information is analyzed, and we underwrite the transaction. After determining if the transaction can support the requested loan amount, a Letter Of Intent is issued. Upon execution of our Letter of Intent, we will issue a quote; if the client accepts the quote, the application materials are then compiled and the transaction, whether HUD or conventional, begins to move forward on the path to closing.

It’s almost pretzel time!

Cambridge Chairman Jeffrey A. Davis says the company’s executive staff is looking forward to participating in meetings with industry clients during the 21^st Annual NIC Conference set September 21 through 23 at the Marriott Wardman Park conference hotel in Washington, D.C.

“NIC is the senior housing/healthcare industry’s top deal making event. Every year the event brings together the industry’s leading investors, owners and operators to share candid insights about opportunities that lie ahead,” he said.

Cambridge has participated in all but one of the 21 NIC conferences held since 1990. The company will again be an educational sponsor at this year’s event, he noted.

According to conference planners, NIC is committed to facilitating networking. With transactions and capital flows increasing, and compelling industry performance data readily available, interest in the senior housing/care sector is on the rise.

Mr. Davis said the Cambridge staff will share ideas on how to maximize funding opportunities in the current market. Those wishing to schedule a meeting with company executives during the industry‘s premiere conference should contact Zachary Scardina at 312/521-7625.

Wouldn’t it be great to spend your retirement doing the things you love with people who have the same passion for them? Thanks to a new trend in the senior housing industry, that dream is now a possibility with the development of niche retirement communities, which are tailored to the lifestyles of their residents. Whether your interests lie in education, art, or RV’s, there may be a senior community waiting to indulge you.

All across the U.S., these specialized retirement communities are appealing to the growing wave of aging baby boomers. There is a wide range of options when it comes to niche or “affinity” communities, including university-based, LGBT, Asian-American, art and music, and RV-enthusiasts. Many owners/operators are eager to expand their custom facilities, and even specific interest groups like PANDAbare, a nudist non-profit organization in Florida, have plans to enter the senior housing market.

Since tailoring communities to a specific lifestyle may require additional funds, Cambridge is open to working with clients to find the best financing solutions to customize their facilities. Niche retirement communities are adding diversity to the market as they continue to be a growing trend.

For the first time in many years, mortgage interest rates are at a historic low. This creates great opportunities for everyone, and especially for those in the senior housing and healthcare industry. Borrowers in the business should take the time to see how refinancing your facilities could save you a great deal of money.

When it comes to refinancing, no one does it better than Cambridge. We are the originators of the Signature Experience, which focuses on developing relationships, finding ideal capital structures and solutions, and closing and funding debt and equity financing transactions in a timely manner. We stand by this process to give our clients the most efficient experience. We are one of the most knowledgeable companies in the industry when it comes to HUD lending, as it is our specialty. So whether you are in need of conventional or government financing, we can help you.