Sandy River Company announced it’s partnering with Cambridge Realty Capital to provide financing for Department of Housing and Urban Development’s 232 LEAN financing to clients in New England.
The companies have been working together on various projects since the 1990s. In 2007, Sandy River sold its operating companies to Genesis HealthCare but continues to own the real estate and lease the buildings. Since the sale, Sandy River Company has transitioned into a full service consulting, advisory, development and loan origination firm that is able to draw upon many years of experience in all facets of the senior housing/healthcare business according to Daniel Maguire, vice president of Sandy River.
“Cambridge is widely regarded as an exceptionally knowledgeable industry leader. And the company’s professional staff has a remarkable understanding of what will and will not fit within HUD guidelines,” he said. “The company closes on more than 95 percent of the applications it submits to HUD.”
Unlike some lenders, Maguire says Cambridge services all of the loans the company underwrites. “In working with the firm, we never encountered a servicing problem. And we’ve never had an accounting issue with any of our loans,” he added.
Maguire says Sandy River has coordinated conventional and government business loans and grants for both startup and expanding businesses.