Cambridge Realty Capital Companies has been in the business of providing FHA-approved HUD loans to senior housing/healthcare borrowers for so long that officials at HUD have been known to ask the company for advice on product and policy issues.
Cambridge Vice President Zach Scardina says that Andy Erkes is President of Cambridge Realty Capital Ltd. of Illinois, the Cambridge business responsible for underwriting HUD loans. Andy already was an expert on government funding programs when he joined Cambridge as a partner in the early 1980s, and has had a front-row seat for all the significant changes that have caused HUD to emerge as the lender of choice for many senior housing/healthcare borrowers in the current century.
“We’ve been doing these loans for a long time, and it shows. Our management team is widely respected in the industry,” Scardina points out.
Mr. Scardina says Cambridge has ranked among the leading FHA-approved HUD senior housing/healthcare lenders in each of the past 15 years. The business started in Illinois but began expanding nationally in the 1990s.
“The company is 100 percent focused on senior housing/healthcare finance. Not a lot of companies out there can make this claim,” he said.
Mr. Scardina has a Bachelor of Science with a double major in Finance and Real Estate from DePaul University; he initially joined Cambridge’s internship program in 2010 and today is primarily involved with loan originations, processing, and acquisitions.
“Cambridge is not just one of the country’s leading HUD lenders, the company has had first-hand knowledge and experience with the operational side of the business,” he said.
“This gives us a different perspective. We’re better able to understand client concerns from an operational standpoint.”
Mr. Scardina says clients appreciate the fact that Cambridge has the knowledge and ability to close deals.
“We’re a small, highly specialized firm that is committed to providing a more personalized approach to the business. Our clients have direct access to the company’s top executives and never get lost in the shuffle,” he noted.