CHICAGO, IL--The nation’s credit woes haven't put too big of a dent in enthusiasm levels for senior housing/healthcare borrowers, Cambridge Realty Capital Companies reports.
“The number of loan requests reviewed in April were down from the same month last year, but year-to-date tallies compare favorably with 2007. And the dollar volume for loan requests reviewed this year has continued to run ahead of last year’s totals through the first four months of the year,” Chairman Jeffrey A. Davis (top right photo) reports.
Davis said Cambridge reviewed 27 loan requests in April totaling $468.1 million, compared with 38 loans totaling $576.6 million for April 2007.
However, through the first four months of the year, the company had reviewed 118 origina
tion requests totaling $1.9 billion, compared with 123 loans totaling $1.4 billion for the same period in 2007.
tion requests totaling $1.9 billion, compared with 123 loans totaling $1.4 billion for the same period in 2007. Davis points out that lenders close a relatively small percentage of the loan origination requests they receive. But it’s useful to track this information as an indication of market directions, he believes.
“In a turbulent period for the credit markets, it’s fair to say borrowers are continuing to check out their options. Also, by historical standards, money has remained available at competitive rates,” he observed.
Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com
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