Business remains brisk for Cambridge Realty Capital as summer wraps up. Cambridge recently released its closing data for July 2021. Cambridge President Jeffrey Davis reported three closings in the month of July worth a total of $34,574,600. All three closings were HUD 232/223(a)(7)’s and consisted of loans from $7.8 million dollars to $14 million dollars. The facilities were all located in the Midwest and primarily in the metropolitan Chicago area, Davis confirmed.
The three July closings bring Cambridge’s year-to-date closings to a total of $250 million dollars.
“Cambridge’s HUD platform continues to have momentum moving into the end of Q3 and the beginning of Q4 to possibly surpass its 2020 closings,” he stated. Davis is confident that the momentum will continue into the fall.