It’s time to refinance your senior housing/healthcare property (or properties). If realistic expectations are what you’re shopping for, Andrew Delman has a suggestion.
Mr. Delman is owner of National Preservation Housing Partners (NPHP), a Deerfield, Ill., business that is exclusively focused on the purchase, rehabilitation and preservation of low-income, Section 8 housing. Since the turn of the century, he has obtained financing for more than a dozen projects totaling more $100 million from Cambridge Realty Capital, an FHA-approved HUD mortgage lender that has consistently ranked among the industry’s leaders in the current century.
“First and foremost, Cambridge is professional and realistic. The company doesn’t promise what the borrower wants but what it can get done. The profit and fee structure is transparent, and the company has experience and knowledge with HUD loans that is second to none,” he said.
“The company has enjoyed success because it is driven by a desire to close transactions and not just earn a fee. Setting realistic expectations, building relationships and treating people fairly is what the Cambridge is all about,” he believes.
Mr. Delman’s primary contacts at the company are Andy Erkes and Tony Marino. Mr. Erkes is President of Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites HUD loans. Mr. Marino is a vice president with the company.
“The HUD end product may be a commodity but the process that delivers it is not. What you hear from Cambridge you can trust. If a problem occurs the company strives to resolve the issue.”
Mr. Delman describes an especially challenging Cambridge assignment that the company handled with aplomb.
“The job involved multi-layered financing of a low income senior building that required various federal and state approvals and combined a low income housing tax credit (LIHTC) with a Section 8 subsidy. The deal was complex because stringent underwriting is involved when combining more than one federal program. But Cambridge came through with flying colors.
“For these reasons Cambridge is my first choice in any FHA financing” he said.