Cambridge Realty Capital Companies reports that a national sponsor/co-investment joint venture capital development program offered by the senior housing/healthcare capital firm is ideal for experienced owner-operators who are looking to maximize third-party capital and leverage.
Chairman Jeffrey A. Davis says the program is being coordinated by Cambridge Investment and Finance Co., an affiliate. The majority of capital earmarked for the program is from a private equity firm which has been working with Cambridge for several years.
Co-investment development capital is available for properties costing between $15 million and $95 million. Candidates for the program are independent living, assisted living, memory care and multi-level developers in the top 50 MSAs with strong barriers to entry.
Typically, parties in these transactions are the developer/sponsor, the senior housing operator if not the developer, the institutional equity firm that provides the majority of the equity, and a third-party construction lender. Cambridge can be introduced to the transaction at any time, and becomes especially focused when the developer/sponsor, senior housing operator, and institutional private equity and the third-party construction loan have already been arranged.