Here’s something many clients say they like about Cambridge Realty Capital: the company’s results-oriented loan origination scoring system, which assures that the HUD loan applications the company agrees to process and fund have an exceptionally high probability of success.
“Since HUD reorganized and centralized its operation in 2009, Cambridge has had a 100 percent success rate for HUD Lean loans submitted to the agency. And going back even further to the mid-1990s, the company has closed about 98 percent of all HUD applications submitted on behalf of senior housing/healthcare borrowers,” says Senior Vice President Brent Holman-Gomez.
“Loans close on time and the application process never winds up wasting anyone’s valuable time,” he noted.
Cambridge is one of the nation’s leading senior housing/healthcare lenders, with more than $5.5 billion in closed transactions. The company consistently ranks among the leading FHA-approved lenders in the country.
“Clients favorably comment on the company’s can-do underwriting approach. What other lenders see as obstacles are not necessarily obstacles for Cambridge. We find ways to work around such things as bankruptcies, tax liens and the sort of challenges that discourage other lenders,” Mr. Holman-Gomez points out.
He says clients are aware of the company’s reputation as a knowledgeable, experienced lender that has specialized in the senior housing/healthcare segment for more than 20 years. But Cambridge is more than just a HUD mortgagee.
The company also is involved in the acquisition and owning of senior healthcare properties, most typically in secondary or tertiary markets.
“We’re looking for turnaround opportunities in which our operating company partners can grow and expand in local communities without the need to come up with large capital outlays for real estate,” Mr. Holman-Gomez said.
He says Cambridge has three distinctive business units: FHA-insured HUD loans, conventional financing and investments, and acquisitions through the company’s Cambridge Investment and Finance Co. subsidiary. The company’s investment strategy includes direct property acquisitions, joint ventures and sale/leasebacks.
“In the senior housing sector, many of the large REITs and individual investors are focused on purchasing from owners with at least five properties in their portfolios. In contrast, Cambridge most typically acquires properties with turnaround potential and works with experienced local management company partners to realize the property’s fullest potential,” he said.