NAI Realvest Negotiates New Lease for 9,675 SFt, increasing occupancy to 100 Percent at Winter Park Commerce Center

 ORLANDO, FL – NAI Realvest recently completed a lease agreement for 9,675 square feet of office/industrial space at Winter Park Commerce Center near downtown Winter Park, FL. 

Michael Heidrich (top right photo), principal at NAI Realvest negotiated the transaction representing the landlord, Winter Park-based WFI. 

 Jack Lynch (lower left photo), senior associate at NAI Realvest represented the new tenant Hype Marketing d/b/a Fulfillment Experts, Inc., who leased units 913, 915 and 937 N. Pennsylvania Ave., and increased the occupancy to 100 percent at Winter Park Commerce Center.

For more information, contact:  

Jack Lynch, NAI Realvest 407-875-9989 or jlynch@realvest.com

Michael Heidrich, NAI Realvest 407-875-9989 or mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

   

The Emmes Group of Companies Completes 11,310-SF Lease at High-Rise Office Tower in Irvine, CA

 IRVINE, CA, JAN. 25, 2011 – The EMMES Group of Companies, a privately-owned real estate investment company, has completed a 10-year lease with Systems Source for 11,310 square feet of space at The Michelson (top left photo), a landmark 533,000-square-foot high rise office tower located at 3161 Michelson in Irvine, Calif. 

The new space will be used as the company’s corporate headquarters.

Steve Card of Travers Realty represented Systems Source. The EMMES Group of Companies represented itself in the transaction.

“This lease an example of the increasing demand we are seeing for high quality office space in Orange County,” said EMMES Managing Director Robert Shibuya (middle right photo).  “We continue to see interest from prospective tenants seeking to secure long term facilities requirements in premier office tower buildings like The Michelson.”

Located in the heart of Orange County at the southeast corner of Jamboree Road and the 405 Freeway, The Michelson is a 19-story tower offering panoramic views of the Pacific Ocean, San Gabriel Mountains and Orange County skyline, and is currently more than 80 percent leased to several high profile tenants including Hyundai Capital America, Bryan Cave, Gibson Dunn, Greenberg Traurig and Jones Day. 

Since 1992, The EMMES Group of Companies on behalf of its affiliated entities, capital partners and investors, has acquired and managed more than 35 million square feet of retail, office, industrial and multifamily property types. The company's current portfolio includes encompasses nearly 10 million square feet located in 19 states.

Learn more at http://www.emmesco.com/

Contact:  David Ebeling, Ebeling Communications, (949) 278-7851 david@ebelingcomm.com

New Faces at Grubb & Ellis

Lynda Gallagher Joins Grubb & Ellis Landauer Valuation Advisory Services as Senior Managing Director, Midwest

 CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Lynda Gallagher (top right photo) has joined Grubb & Ellis Landauer Valuation Advisory Services as senior managing director, Midwest.

 In this role, Gallagher is responsible for the firm’s business development and expansion throughout the Midwest, including Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.  In addition, she will direct recruiting and oversee the local managing directors within the region.

“Lynda is known in our industry as someone who is strategic and proactive in serving her clients, and she shares our commitment to delivering insight that helps clients make better decisions about their real estate throughout the ownership cycle,” said Doug Haney, president, Grubb & Ellis Landauer Valuation Advisory Services.  “I couldn’t be more pleased that Lynda has joined us to build our presence in the Midwest.”

 With more than 20 years in the appraisal and valuation business, Gallagher joined Grubb & Ellis from CB Richard Ellis where she was vice president,

The company is looking for experienced appraisal professionals throughout the country.  To learn about career opportunities and apply for a position, visit www.grubb-ellis.com/joinlandauer

Contact: Erin Mays, Phone: 312.698.6735.

Email:  erin.mays@grubb-ellis.com

               

 Robert Cook  Hired as Senior Vice President, Corporate Services in San Jose Office

 SAN JOSE, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm announced that Robert Cook (middle left photo) has joined the company as senior vice president, Corporate Services, based in the company’s San Jose office. 

 A 30-year industry veteran, Cook brings extensive corporate real estate finance experience to Grubb & Ellis. 

 He will lead the suite of services designed to help corporate real estate departments respond to the Financial Accounting Standards Board’s pending lease accounting changes, which are expected to have far-ranging implications for companies and how they manage their real estate portfolios.

 In addition, Cook will expand the company’s Corporate Services relationships throughout the San Francisco Bay Area.

 “As a veteran corporate real estate professional, Bob brings a wealth of corporate real estate and workplace strategies experience.  His addition reinforces Grubb & Ellis’ commitment to knowledge leadership in the corporate sector,” said David Susoreny, executive vice president, Corporate Services. 

 “Bob’s unique background and recognized expertise in FASB transformation provides him a unique ability to impact our client segment quickly with value additive programs.”

 “Bob’s extensive experience and deep skill set brings even more corporate knowledge to our clients in the Silicon Valley and Northern California,” said Dick Scott, managing director of Grubb & Ellis’ San Jose office.  “We could not be more pleased to have him on board.”

 Contact: Julia McCartney, Phone: 714.975.2230,

Email: julia.mccartney@grubb-ellis.com

          

Marcus & Millichap Sells 7,056-SF, Single-Tenant, Net-Leased Building in Tampa, FL for $1.6 Million

    

TAMPA, FL, Jan. 25, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Davita Dialysis (top left photo), a 7,056-square foot single-tenant net-leased property located in Tampa, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $1,615,000.

The buyer, a limited liability company, was secured and represented by Benjamin Berry (middle right photo)  and Michael J. Jaworski, (lower right photo)  investment specialists in Marcus & Millichap’s Tampa office. 

Davita Dialysis is located at 11306 North 53rd Street.  

“Davita Dialysis is one of the more sought-after medical tenants in the net-lease world,” says Jaworski.  The tenant recently renovated at this location and they should be there for a long time,” adds Jaworski.

 Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Cambridge Provides $2.16 Million HUD Lean Loan to Refinance Hillsboro Rehabilitation and Health care Center in Illinois

 CHICAGO, IL--Cambridge Realty Capital Companies reports closing on a $2.16 million FHA-insured HUD LEAN loan that refinanced the Hillsboro Rehabilitation and Health Care Center (top left photo), a 107-bed skilled nursing facility in Hillsboro, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 26-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois for the owner, a Missouri limited liability company. The interest rate was not disclosed.

Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com

Atlanta|Pacific Companies Hires Pilar Puente and Promotes Lorena Petry and Laura Nadel

  

 MIAMI, FL – Atlantic | Pacific Companies (A | P), a fourth generation real estate company, is pleased to announce the addition of Pilar Puente to the team and two new promoted positions for Lorena Petry and Laura Nadel.

 Pilar Puente is now the Property Manager at Atlantic | Pacific Management’s (APM) Valencia at Doral Park property. Before joining APM, Pilar was the Property Manager at locations including Present Parc Central Condominiums and Mirador 1200 Condominiums.

 Lorena Petry started as an Assistant Manager at APM’s Wind Condominium and has now been promoted as Manager for Valencia at Doral Park. Laura Nadel was most recently at the Caribbean before being promoted to the Manager position at Bentley Bay.

Randy Weisburd (top right photo), A | P’s Chief Operating Officer, says “In today’s uncertain economic climate, APM continues to foster best practices by providing a clear path towards career enhancement.

“Lorena and Laura’s promotions are a testament to APM’s focused training and unparalleled corporate support in helping our associates reach their career goals.”

For more information, please contact:

Randy Weisburd at rweisburd@apmanagement.net

Jessica Wade Pfeffer / Jessica Wade Inc., 305.804.8424, Jessica@jessicawadeinc.com

 and visit http://www.apmanagement.net/

Plaza Advisors Announces Sale of The Shops at Verandah in Fort Myers, FL

TAMPA, FL--Plaza Advisors is pleased to announce the sale of the Shops at Verandah (top left photo) in Fort Myers, Florida.

The shopping center is situated at the intersection of Palm Beach Boulevard (SR 80) and SR 31 and totals 72,795 square feet of gross leasable area.

The grocery anchored asset features Publix, Beef ‘O’ Brady’s, Pinch a Penny, Allstate, H&R Block, and separately owned freestanding; Regions Bank, Exxon Mobil, and Wachovia/Wells Fargo.

 The asset was constructed in 2006. The property was 92% leased at the time of sale.

 Plaza Advisors represented the buyer in the transaction and co-managing partners Jim Michalak (top right photo)  and Anthony Blanco (middle left photo), together with Senior Financial Analyst, Lenard Williams (lower right photo)  were involved in the engagement. The seller was not represented by a broker.

The seller and buyer were The Shops at Verandah, Ltd. and CR South, respectively. 

The sale of the Shops at Verandah marks the third Publix anchored center sold by Plaza Advisors over the past four months and the eighth retail transaction in 2010.

Contacts:

Jim Michalak, Tampa Office, 813-837-1300, Fax: 813-831-2627

Jim.michalak@plazadvisors.com

 Anthony Blanco, Miami Office: Fax: 305-647-6441, 305-629-3606,                                                                                                                           

Anthony.blanco@plazadvisors.com

Turning Your Leased Industrial Facilities into a Profit Center

By George Livingston (top right photo) and Christie Alexander (top left photo)

 Ed. Note: George Livingston is founder and chairman of NAI Realvest, based in Maitland, one of the most active commercial real estate brokerage firms in Central Florida. He is a principal of CommerCenters, LLC, which ranks as one of the region’s largest developers of industrial facilities.

 According to current economic indicators---and most economists--- U.S. business and industry will likely show measurable signs of improvement in 2011. That means the window is narrowing on the opportunity for industrial firms to recognize significantly improved revenue from their leased facilities.

That may seem counter-intuitive at first. But the current economic cycle is rife with opportunity for successful enterprises with positive credit history. Your landlord is loath to admit it, but the fact is, your company---more specifically your leasehold obligation---is one of your landlord’s principal assets right now.

 Nationwide, commercial properties---including the facilities you occupy now---have decreased in value as a result of the real estate decline and the accompanying recession. With regional and local market vagaries, all properties have suffered. As undercapitalized companies downsized or folded, vacancies spiked and rents from remaining tenants have not made up the difference.

That means the capital value of your monthly rent payment---the relative proportion of your landlord’s mortgage payment or ROI covered by your payment---is substantially greater than the numerical dollar value. Your landlord and your landlord’s lender are both eminently aware of this.

 To the extent that you can turn that value differential into cash---or concessions---you can improve your company’s cash position.

 But beware the window is closing. As the economy improves and more companies expand, the value differential will evaporate.

 If your lease is due for renewal this year, current market conditions are even more favorable. Landlords will agree to substantial concessions to retain a good tenant. Even if your lease is not due for renewal soon, negotiate now and offer to extend the term.

A reputable offer of terms and conditions from a new landlord will inevitably lead to stronger concessions from your current landlord.

 From your current landlord’s perspective, the only meaningful differential is an estimate of your relocation costs versus his cost to lease the space to a new tenant.

Well-informed---and well-represented---tenants are cutting very good deals now with pragmatic landlords, fixing advantageous rates, lengthening lease terms and negotiating improvements and upgrades.

 In the current market cycle, most companies will benefit from lease negotiations conducted with the expertise of a good tenant representative. Almost every commercial property firm today retains associates whose specialty is representing the interests of tenants.

 Such specialists have the capacity to research properties, landlords and local market conditions, and know which concessions are most reasonable.

 They also know the conditions landlords face. A newly built industrial property may have minimum lease requirements imposed by lenders, and thus might be more flexible granting improvements or upgrades than lower lease rates.

 Landlords of older properties may be in a better position to wait out the recovery and thus be less inclined to negotiate generous concessions of any sort. A good tenant representative will know the inside story.

 The end result is the same. Time is of the essence. Act now and you can lock in rates and terms that fit your business plan and substantially improve your bottom line.

Contact: Larry Vershel or Beth Payan, http://www.lvershelco.com/

Crossbeam Capital and Concierge Asset Management Merge

 BETHESDA, MD. Jan. 24, 2011- Crossbeam Capital LLC, an institutional real estate investment fund manager, has merged with Concierge Asset Management, LLC, a 40-year-old Houston-based investor, redeveloper and manager of apartment communities. 

The combined company, Crossbeam Holdings, LLC, will focus on acquiring multifamily communities throughout the U.S. and redeveloping them to institutional quality. The merger formalizes a partnership established in 2010 which acquired seven multifamily communities including closing five properties in December alone.

“Crossbeam Capital and Concierge Asset Management were two successful, independently-run companies,” says Richard K. Devaney (top right photo), formerly a principal and chief investment officer of Crossbeam Capital and now chairman and chief executive officer of the new company.

 “We were profitable and generating consistent returns for our investors.  However, as we began working on acquisitions together, we recognized how compatible our two organizations were.”

Maxwell Drever (middle left photo), founder-chairman of Concierge Asset Management who becomes chairman emeritus of Crossbeam Holdings, agreed the new company “has an extraordinary combined track record in creating real value for investors but it has also delivered reliable and sound solutions for sellers, lenders and brokers.

“In decades of property acquisition and transformation, we’ve had the priceless ingredient of ‘trial and error’ and refined an expertise in recognizing value buys and cost-effectively redeveloping the apartment communities.” says Drever.

 “In partnering on seven deals last year with Rich Devaney and the Crossbeam team, I realized a merger could give us the financial leverage and additional acquisition talent to move quicker in identifying and closing on multifamily properties that are a fit for our signature redevelopment strategy.”

The management team of Crossbeam Holdings is led by Devaney as chairman and CEO. Prior to co-founding Crossbeam Capital, he was national vice president for Equity and Mezzanine Debt at Fannie Mae in Washington D.C.

 Ted Kerr (middle right photo), chief executive of Concierge Asset Management, is now president of Concierge Holdings. Kerr had been director of asset management of Drever Partners, which owned 18,000 apartment units when Maxwell Drever sold it in 1997 to Walden Residential, a Dallas-based, NYSE-listed REIT.

W. Bradford Blash (lower left photo), chief acquisitions officer of Crossbeam Capital, is chief business officer of the merged company. Before co-founding Crossbeam, he was director of Equity at Fannie Mae in Washington, DC.

Combined, Crossbeam Holdings has $630 million in real estate assets under management, a portfolio of 29 multi-family properties with 9,045 rental residences primarily managed primarily by its 165 person property management subsidiary, Concierge Management Services.

In addition to the seven properties bought and closed last year, Drever says Crossbeam Holdings is starting 2011 by working to acquire three apartment communities where prospective buyers of each failed to meet the sellers’ year-end deadline.

“Our niche,” he added, “is that we have the capital, ability and agility to move quickly, step in and solve problems for almost any seller or lender with a multifamily property and/or their non-performing loans.”

Contact: 

Chris Barnett, 415-336-5092; cbarn@aol.com

Jennifer Farthing, 240-223-1679, jfarthing@crossbeamcapital.com

 for Crossbeam Holdings.

Leslie Gordon, 415-789-1773, leslie@drever.net for Maxwell Drever                 

Stan Johnson Co. Completes Sale of GSA/Dept. of Veterans Affairs Building in Lufkin, TX

LUFKIN, TX –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 37,000-square-foot medical outpatient clinic building 100 percent occupied by GSA/Department of Veterans Affairs to Pomona, NY-based RJ Block Properties, LLC.

The property is situated on seven acres at 2216 N. John Redditt Dr., in Lufkin, Texas. 

Brett Butler (top right photo) of Stan Johnson Company represented both the buyer and the seller, Lufkin-based LD Lyndon Properties, LLC.

Built in 2009, the property has a long-term, 20-year modified gross lease with the GSA/Department of Veterans Affairs.

“With our proactive marketing campaign to brokers and investors, we were able to secure 10 competitive offers,” said Butler.

 Sale Completed of 335,700-square-foot Industrial Building Occupied by the Hillman Group in Forest Park, OH

 FOREST PARK, OH –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 335,700-square-foot industrial building100 percent occupied by The Hillman Group, a distributor of fasteners, keys, letters, numbers, signs, and engraving, to New York, NY-based Angelo Gordon & Co..

 Built in 2004 the property is situated on 21 acres at 1700 Carillon Blvd. in Forest Park, Ohio.

Craig Tomlinson (middle right photo), CCIM, of Stan Johnson Company represented the buyer as well as the seller, Cincinnati United Contractors, Inc., in the transaction.

“The main challenge of this transaction was recasting the existing lease to add term and bringing it into conformance with institutional ownership standards,” said Tomlinson.

 “In that sense, it was really a three-way negotiation with buyer, seller and tenant.  The buyer is getting a very high quality asset with a tenant that leads its industry.  The seller receiveda strong price and is able to redeploy his equity.”

Contact:  David Ebeling, Ebeling Communications, (949) 278-7851

david@ebelingcomm.com

EagleBridge Capital Arranges Mortgage for Dollar Tree Plaza in New Hampshire

Boston, MA--EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $2,480,000 for Dollar Tree Plaza (top left photo) located in North Hampton, New Hampshire. 

The mortgage financing was arranged by EagleBridge principals Ted M. Sidel (middle right photo) and Brian D. Sheehan (lower left photo) who stated that the loan was provided by a regional financial institution.

Dollar Tree Plaza is a 21,000 square foot shopping center situated at 26 Lafayette Road in North Hampton (Route 1). 

The Plaza was completed in 2008 and is composed of 18,000 square feet of in-line retail space and a free standing bank with a drive through.   The Plaza is located in located in a thriving retail area.  Located nearby are Home Depot, Shaw’s Supermarket, Marshall’s, and a host of other retailers.

The roster of tenants includes Dollar Tree which occupies 10,000 square feet, AutoZone  which occupies 8,000 square feet, and Optima Bank and Trust with 3000 square feet. Dollar Tree operates over 3800 discount variety stores in the United States. 

AutoZone is a specialty retailer and distributor of automobile replacement parts and accessories with over 4400 locations in the United States, Puerto Rico, and Mexico.  Optima Bank and Trust is a local bank serving the Seacoast Area.

Mr. Sidel and Mr. Sheehan stated, “We are pleased that EagleBridge was able to structure and deliver a mortgage which met all of our client’s requirements.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, condominiums, apartments, office, industrial, r & d buildings, hotels and mixed use properties as well as special purpose buildings

Contact: Ted Sidel, (617) 292-7177, EXT. 10,                                                                                                 

                                      

Marcus & Millichap Sells $14.5 Million Boutique Shopping Center in New Jersey

   

EAST WINDSOR TOWNSHIP, NJ – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Windsor Crossing (top left photo), an 80,009-square foot boutique shopping center in East Windsor Township, N.J. The sales price of $14.5 million represents $181 per square foot.

Brad Nathanson (middle right photo), a vice president investments and a senior director of Marcus & Millichap’s National Retail Group (NRG), and Christopher Munley, a senior associate and an associate director of the NRG, both in Philadelphia, represented the seller, Windsor Crossing West #4 LLC.

Nathanson and Munley also represented the buyer, East Windsor Crossing LLC, a New York-based private shopping center operator. Michael Fasano in the firm’s New Jersey office also provided representation.

“There was heavy competition regionally for this asset given its proximity to Princeton and because limited new retail product is being delivered to the market, especially in New Jersey,” says Nathanson.

Windsor Crossing was built in 2008 on 11.09 acres at 761 Route 33 West, near Princeton, N.J., Philadelphia and New York City.

The property is part of a master-planned development that includes a 110,000-square foot Home Depot, a 142,000-square foot Walmart and 102 single-family homes on 125 acres. Windsor Crossing shares two access roads off Route 33 with Home Depot and Walmart.

“We have seen an increase in demand for well-positioned centers in affluent and growing markets during the past few quarters,” says Munley. “I expect that trend to continue.”

The center currently has 14 tenants, including Gold’s Gym, The Learning Experience, New York Community Bank, Mahzu, a Japanese restaurant and Patidar, a grocery store.

 Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Colliers International Recruits Mark Tarczynski and Adam Tischer to its Downtown Los Angeles Office

LOS ANGELES, CA – Colliers International, the second largest global real estate services organization, welcomes Mark Tarczynski (top right photo) and Adam Tischer (middle left photo)  to its Downtown Los Angeles office. They specialize in representing large corporate investment and developer clients in the Downtown Los Angeles market. 

 “We are thrilled to welcome Mark and Adam to Colliers,” said Martin Pupil (lower right photo), regional managing director for Colliers International’s Greater Los Angeles operations.

 “Mark’s leading reputation and success in selling high profile urban properties along with his recognition as one of the chief agents to Downtown LA’s growth into a dynamic urban center will be a tremendously valuable addition to our growing platform in the Greater Los Angeles region.”

 Mark Tarczynski will serve as executive vice president. Previously he was with CB Richard Ellis’ Los Angeles office where he founded the Los Angeles Urban Redevelopment Group.

Adam Tischer will serve as vice president. Previously, he was with CB Richard Ellis’ Los Angeles office where he earned their coveted Rookie of the Year award in 2008.

Contact:

Angela S. Hwang, Regional Marketing Coordinator,

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

D & A Building Services Spins off Waterproofing Division

LONGWOOD, FL — D & A Building Services Inc., one of the nation’s largest Hispanic owned facility maintenance companies, has incorporated its waterproofing division now known as D & A Waterproofing Services Inc.

According to D & A founder and President Al Sarabasa, Jr. (lower left photo), the division was established in 2005 to meet client needs following the unprecedented building damage left by the 2004 hurricane season.

Heather Sarabasa (top right photo), who managed the waterproofing division since 2005, has been named president/COO of the new entity.

She has 13 years of industry experience and an Associate of Arts from Valencia Community College. Heather is a member of the Sealant Waterproofing and Restoration Institute and serves on the Ambassador Committee of Associated Builders & Contractors. 

For additional information, please visit http://www.dabuildingservices.com/

PR Contact: Elaine Ingra, (407) 384-1344 elainei@pr-works.com

Grubb & Ellis|Thomas Linderman Graham Brokers Sale of 240-Unit Patriot’s Pointe Apartments in Hillsborough, NC

 RALEIGH, N.C. (Jan. 21, 2011) – Grubb & Ellis|Thomas Linderman Graham, a leading North Carolina real estate services firm, announced today that it represented an undisclosed seller in the disposition of Patriot’s Pointe Apartments, (top left photo) located at 100 Patriot’s Pointe Drive in Hillsborough. The property sold for $16.0 million, or $66,667 per unit.

 Completed in 2005, Patriot’s Pointe Apartments is a 240-unit apartment complex totaling 284,082 square feet on 27.55 acres of land.  The complex was approximately 90 percent occupied at the time of sale.

Curteis Calhoun (lower right photo) of Grubb & Ellis|Thomas Linderman Graham represented the seller in the transaction.  Brantley Properties, based in Greensboro, N.C., purchased the apartment complex.

 Contact: Elizabeth Raiford, Phone: 919.420.1563,

Email:  elizabeth.raiford@tlgcre.com

Cambridge Realty Capital Reports Processing 267 Loan Origination Requests Totaling $3.72 Billion in 2010

  

CHICAGO, IL--Cambridge Realty Capital Companies processed 267 loan origination requests in 2010 totaling $3.72 billion, or slightly fewer than last year when the company reviewed 298 loan requests totaling $4.0 billion, Chairman Jeffrey A. Davis (top right photo) reports.

“Loan origination request volume remained strong but Cambridge was forced by reality to be more selective in the type of loans logged into the company’s internal processing system,” he noted.

Cambridge is one of the nation’s leading senior housing/healthcare lenders, with more than $3 billion since the mid-1990s. The company is consistently ranked among the leading HUD 232 healthcare lenders in the country.

Davis said demand for HUD 232 financing was strong throughout the year and in recent months the company “has been seeing more and more conventional debt and finance activities. Also, acquisition activity continues to be active and moving forward,” he said.

“But general conditions in the capital markets have made it more difficult to obtain funding for new construction except on a selective basis. Our strategy has been to be upfront with borrowers who request our help. Some loan requests that may have logged into our system in the past are not making it into the mix at this time,” he said.

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

“Although down slightly, when technical adjustments are taken into account, our numbers do, in fact, confirm reports that lending activity is increasing. But deals are being completed at very low loan-to-value ratios with more conservative underwriting guidelines,” he said, adding:

“In general, the more typical acquisition loans continue to be challenged and, for some borrowers, relationships with capital sources have been strained.”

Contact:  Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail:  ew@cambridgecap.com