CHICAGO, ILL--Borrower enthusiasm as measured by loan origination requests clearly perked up in the second half of 2009, but not enough to offset the slower pace established earlier in the year, Cambridge Realty Capital Companies reports.
Chicago-based Cambridge is one of the nation’s leading senior housing/healthcare lenders. Chairman Jeffrey A. Davis (top right photo) said the company processed 298 loan origination requests totaling $4.03 billion in 2009, compared with 333 requests totaling $4.77 billion a year earlier.
“Given all the challenging economic news they had to deal with, borrowers were out in surprisingly large numbers. But availability of capital from traditional lending sources remained problematic throughout the year,” Davis said.
He points out that lenders close a relatively small percentage of the loanrequests received, but believes it’s useful to track this information as anindication of market direction. “We saw a definite bounce in borrower interest during the third quarter of the year, and fourth quarter numbers were only slightly behind 2008 totals for the final three months of the year,” he noted.
In the fourth quarter of 2009, Cambridge processed 94 origination requests totaling $1.0 billion, compared with 97 loans totaling $1.2 billion for the same period in 2008. Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: mailto:ew@cambridgecap.com,
Twitter: http://twitter.com/CambridgeCap
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