If the goal is to bring more predictability into their lives, senior housing/healthcare borrowers may want to consider this: establishing a long-term relationship with a knowledgeable lender is a good place to start.

“Establishing a positive, long-term relationship with a lender is important to the borrower for many reasons, most obviously because relationships built on mutual trust, respect, and candor make the outcome of any loan application more predictable,” says Cambridge Realty Capital Senior Vice President Brent Holman-Gomez.

Reliable and accurate information are the pillars of lasting, productive relationships, he believes.

“When refinancing or applying for an acquisition or new construction loan, healthcare borrowers need to be as thorough as they can possibly be. Ideally, they will approach the task with a pragmatic mindset, carefully reviewing all statements, census data, and legal documentation to make certain that all the information bases are covered,” he advises.

Mr. Holman-Gomez points out that borrowers rarely chance submitting information to lenders they know to be inaccurate. But it often happens that borrowers submit data that is incomplete, which can lead to unintended problems.

“Lenders are often asked to deal with projections and understand that these projections can get very aggressive. But it’s never a good idea for borrowers to fudge, not even a little bit,” he said.

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