Cambridge Responds to 27 Loan Origination Requests in January Totaling $364.6M

CHICAGO, IL, Feb. 18, 2009--As the economy continued to slow, Cambridge Realty Capital Companies reports processing 27 loan origination requests totaling $364.6 million in January.

Chairman Jeffrey A. Davis (top right photo) said the company processed about the same number of loan requests in 2008, but the dollar volume for the current year was substantially below the $538.4 million tally for the same month last year.

Cambridge is one of the nation’s leading senior housing/healthcare lenders, with more than $2.75 billion in closed transactions since the mid-1990s. Davis points out that lenders close a relatively small percentage of origination requests received but believes it’s useful to track this information as an indication of market directions.

“What the data tells us is that borrowers haven't lost interest. But its obvious there’s been a drop in transaction size, with fewer new construction mega-projects in the mix to skew the volume total,” he noted.

“This trend has begun to settle in place over the past six months,” he added.

Contact: Evan Washington, Phone: (312) 521-7603. Fax: (312) 357-1611. E-Mail: ew@cambridgecap.com