Cambridge Says Loan Origination Requests Rise Modestly in February

CHICAGO, IL--Cambridge Realty Capital Companies reports the number of senior housing/healthcare loan origination requests processed by the company rebounded modestly in February but the dollar volume was up a robust 21.6 percent over the same month last year.

Cambridge Chairman Jeffrey A. Davis  (top right photo) said the company processed 28 loans totaling $478.2 million in February. This compares with 25 loans totaling $393.1 million for the same month last year.

For the year-to-date, Cambridge has processed 50 loan requests, compared with 52 loans during the first two months of 2009. However, the $852.1 million dollar volume for this year is running about 12 percent ahead of the $757.7 million volume for the same period last year.

Davis points out that lenders close a relatively small percentage of loan requests received, but thinks it’s useful to track this information as an indication of market direction.

“All things considered, the results to date are encouraging. Cambridge is predicting a rebound in funding activity in 2010 if the economy continues to improve,“ he noted.

Cambridge is one of the nation’s leading senior housing/healthcare lenders with more than 300 closed transactions totaling more than $3 billion since the mid-1990s, when the firm began specializing in senior housing/healthcare financing. The company consistently ranks among the top FHA-approved HUD 232 healthcare lenders in the country.

Davis says Cambridge has been privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties. The company today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions.

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