CHICAGO, IL--Cambridge Realty Capital Companies reports closing six transactions totaling $40.4 million during the first half of 2010 and notes that activity totals should be even more robust in the third quarter of this year.
“Given the economic challenges, we’re very pleased with the way the year is shaping up. Based on loans currently being processed, it now appears that third quarter closings alone could exceed totals for the first six months of the year,” said Chairman Jeffrey A. Davis (top right photo).
“With interest rates at current low levels, borrowers are reconsidering the economics of their current situation and giving more serious thought to the refinance option,” he noted.
Cambridge is one of the nation’s leading senior housing/healthcare debt and equity capital providers and consistently ranks among the top FHA-approved HUD 232 Lean lenders. The firm has closed more than 300 senior housing/healthcare loans totaling more than $3 billion since the early 1990s.
In the first half of 2010, the average loan size closed by the company was $6.76 million.
The largest transaction was over $10 million and the smallest was a $1.4 million HUD loan to refinance McGill Terrace Apartments in Chicago. Davis said Cambridge originally provided HUD funding for the 48-unit apartment community in December, 1996.
Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap
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