|
Special Reports
Commercial Loans
Cambridge Processes 92 Origination Requests
By Jennifer Harmon
Cambridge Realty Capital Cos. here processed 92 loan origination requests during
the first quarter of 2008, almost exactly the same number processed by the company during the first quarter of
2007.
But dollar volume for 2008 origination requests continues to run substantially
higher than last year, according to Cambridge chairman Jeffrey A. Davis.
During the first quarter, the dollar volume for the origination requests reviewed
was $1.55 billion, compared with 93 requests totaling $1.03 billion during the same three-month period in 2007.
In March, Cambridge reviewed 35 origination requests totaling $540.6 million,
compared with 27 loans totaling $281.6 million in March 2007.
Mr. Davis points out that lenders close a relatively small percentage of the origination
requests they receive, but believes it is useful to track this information as an indication of market directions.
"The substantially higher 2008 origination dollar volume continues to reflect the fact that a higher percentage
of new construction deals are probably in the mix," said Mr. Davis.
Privately owned since its founding in 1983 as a real estate investment banker
specializing in commercial real estate properties, Cambridge, has closed more than 300 transactions totaling more
than $2.75 billion since the mid-1990s.
The company is a HUD 232 FHA/MAP-approved lender and also has an integrated debt/equity
strategy that includes direct property acquisitions and joint ventures, sale/leasebacks for clients, conventional
and mezzanine debt financing, and acquisition of distressed debt. Additionally, Cambridge offers conventional lending
options for senior housing and health care owners, including permanent construction and interim loans on either
a floating or variable rate basis.
Cambridge is the creator of The Signature Experience, a four-step process designed
to transform the traditional lender and borrower relationship and identify ideal capital solutions for worthy projects.
The company has created four separate processes for customer groups that are designed to build and enhance long-term
relationship potential and speed the way loans are processed and closed.
Programs include The Key to Capital for senior housing owners, The Navigator Experience
for lenders who refer loans to Cambridge and The Relationship Building Network for various industry-related consultants,
including lawyers and accountants.
The company has a regional office in New York, an affiliate office in Los Angeles,
and correspondent relationships nationwide. The firm has also established key origination relationships and a dozen
or more Internet-based strategies, according to Mr. Davis.
Cambridge/Catalyst Healthcare Finance, the West Coast affiliate of Cambridge Realty
Capital, recently arranged a $9.1 million FHA-insured loan to refinance The Rehabilitation Centre of Beverly Hills,
a 150-bed skilled nursing home facility in Beverly Hills, Calif.
|
