CHICAGO, IL--Cambridge Realty Capital Companies reports that senior housing/healthcare loan origination requests processed by the firm during the month of June were up substantially over the same month last year.
Chairman Jeffrey A. Davis (top right photo) said the company processed 28 funding requests in June totaling $379.2 million, which compares with 19 requests totaling $243.1 million in June 2010.
“This marked the second consecutive month in which request activity has been arching sharply higher. In May, the 35 separate loan requests processed by the company was the highest monthly total since 2003,” he said.
Davis points out that lenders close a relatively small percentage of loan requests received. However, Cambridge routinely tracks this information as an indication of market directions.
“Thanks to exceptional, back-to-back monthly gains, year-to-date totals have already moved slightly ahead of last year’s,” he said.
Over the past six months Cambridge has processed 137 loan origination requests totaling $2.12 billion. Last year at this time there were 132 requests totaling $1.7 billion.
“Demand for popular HUD Lean financing remains exceptionally strong. HUD’s Office of Healthcare Programs (OHP) has been making excellent progress in working through the backlog of orders currently in the system,” he said.
Contact:
Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611
E-Mail: ew@cambridgecap.com
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