Cambridge Realty Capital and Healthcare Advisory form strategic alliance

According to Cambridge Realty Capital Companies chairman Jeffrey Davis, the company now has a strategic affiliation with Healthcare Advisory, LLC and its president, Joseph Marion, that will enable Cambridge to focus more effectively on HUD Section 242 hospital financing. Cambridge, a licensed FHA-insured lender, has consistently ranked among the top HUD 232 nursing home lenders in the country. Marion has been one of the premier HUD 242 bankers and processors in the country, according to Davis. Before founding Healthcare Advisory last June, Marion was managing director of Merrill Lynch, Pierce, Fenner and Smith Inc., and president of Merrill Lynch Mortgage Lending Inc., overseeing a $1.2 billion FHA health care portfolio. "We view the new arrangement as an important expansion of the Cambridge senior housing and healthcare financing platform. The new relationship sets up a 'win-win' situation for both parties," Davis said. Marion has structured FHA-insured loans for various types of healthcare projects, including replacement hospitals, satellite hospitals, facility expansions, renovations and refinancing. Areas of specialty include the structuring of project financings, refinancing and advance refunding, negotiated tax-exempt revenue bonds, and the preparation and implementation of applications for federal insurance. In 1981 he completed the first publicly offered FHA-insured/tax-exempt revenue bond issue in the nation. Ten years later he developed the FLOAT/RITES product for a hospital client. In 2005 he completed the first FHA-insured bond issue incorporating a forward interest rate lock. Marion has served as chairman of the Committee for Government Relations of both the Healthcare Financing Study Group and Committee on Healthcare Financing. He also served on the Multi-Healthcare System Advisory Tax Force of the Dormitory Authority of the State of New York, and as a member of the U.S. Department of Housing and Urban Development FHA Secretary‚s Health Care Strategic Advisory Committee. He has been a frequent guest lecturer for many other organizations. Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions. The company is one of the nation‚s leading senior housing and healthcare debt and equity capital providers, with more than 300 closed transactions totaling more than $2.75 billion since the mid-1990s. Cambridge has consistently ranked among the country‚s top FHA-insured HUD lenders and offers conventional lending options, including permanent construction and interim loans on either a floating or variable rate basis. The company‚s growing debt / equity financing strategy includes direct property acquisitions, joint ventures, distressed debt acquisitions and sale/leasebacks. Cambridge is the creator of The Signature Experience, a four-step process designed to transform the traditional lender/borrower relationship and identify ideal capital solutions for worthy projects. The company also has created four separate processes for customer groups that are designed to build and enhance long-term relationship potential and speed the way loans are processed and closed. Programs include The Key To Capital˙ for senior housing owners, The Navigator Experience˙ for senior housing brokers and mortgage bankers, The Principal Lender Network˙ for lenders who refer loans to Cambridge, and The Relationship Building Experience˙ for various industry-related consultants, including lawyers and accountants. The company has an affiliate office in Los Angeles, and correspondent relationships nationwide. The firm also has established key origination relationships and numerous Internet-based strategies. Cambridge‚s award-winning Web site, www.cambridgecap.com, provides current updates for its debt and equity capital programs. The company also publishes the bi-monthly e-Pulse! ® electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.