Institutional broker Mark Myers believes that the senior housing/healthcare industry is awash with investment capital, with REITS getting progressively larger by acquiring other REITS. But smaller transactions are occurring all the time as well.
“In today’s institutional investment climate, the cost should be significantly higher, but purchasing a company with 200 assets is no more complex or complicated than purchasing a mom-and-pop property in a secondary or tertiary market,” he observes.
Mr. Myers is Director of Institutional Property Advisors (IPA), a brokerage platform created by Chicago-based Marcus & Millichap to support the needs of institutional and sophisticated private multifamily investors.
Mr. Myers points out that there are active buyers for senior care properties at both ends of the spectrum, including Cambridge. Mr. Myers was the Marcus & Millichap broker on the first senior care property purchased by Cambridge Investment and Finance Co., a subsidiary created in 2002. Mr. Myers believes Cambridge has three important things going for it; first, access to capital, with an unlimited amount of funding available for projects targeted by the company‘s investment arm. Financial acumen and deal making instincts are the other things the company unfailingly brings to the table.
“Although it’s not unheard of, it is rare to work with investors that shine in all three of these areas,” he notes.
Mr. Myers describes Cambridge as a quality provider of financial capital. The company is very professional and is influential in the senior housing/healthcare market.
“The experience gained in funding HUD transactions has given Cambridge a unique perspective on investment opportunities. Much of the financial experience and expertise gained in putting their record of achievement together has transferred nicely to the investment side,” he said.