Most likely, there will always be yards of red tape associated with the government programs that fund senior housing/healthcare properties.
“Fortunately,” says Chicago developer Bob King, “there are knowledgeable specialists who understand the increasingly complex world of government finance, who can help owner/operators find their way through the maze.”
Mr. King is President of Carroll Properties, Inc., a real estate development and management company that specializes in apartment property development and management. Over the past several years, Carroll has diversified into Chicago suburban office development and home building in Columbus, Ohio. The company has been headquartered in the Chicago Loop since 1988 and has three satellite offices located in the metropolitan area. Mr. King says Carroll Properties is a successor business to a family-owned real estate brokerage firm founded by his father in 1944. Over the years, the company has had a considerable amount of experience in developing and managing publicly-funded housing and FHA-insured multifamily and senior housing projects, King noted.
“The best way to deal with the inevitable red tape that accompanies these projects is to find and work with someone who fully understands the complex world of government finance programs,” he believes.
Mr. King found Cambridge Realty Capital Companies and its principal Andy Erkes. Mr. Erkes is President of Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites FHA-insured HUD loans.
“Andy is really smart and knows the HUD programs cold. His knowledge and mastery of the HUD funding process is truly exceptional.”
“Andy is very sensitive to the customer’s needs – to my needs. He’s able to successfully work with the huge morass of regulatory restraints in tailoring complicated government funding programs that work for clients.
“He makes the red tape associated with these loans easy to understand and respond to,” King added.