Cambridge Realty Capital Companies Chairman Jeffrey A. Davis recently announced a strategic affiliation with Healthcare Advisory, LLC and its President, Joseph R. Marion, that will enable Cambridge to focus more effectively on HUD Section 242 hospital financing. 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. 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.
“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.