CAMBRIDGE INVESTMENT AND FINANCE COMPANY BUYS FOUR WISCONSIN HEALTHCARE PROPERTIES

Cambridge Investment and Finance Company, LLC, an affiliate of Chicago-based Cambridge Realty Capital Companies, has purchased a group of four assisted living healthcare properties in Green Bay and Appleton, Wisconsin, and has contracted Senior Housing Management, Inc. (SHM) of Cedar Rapids, Iowa, to manage the properties.

Cambridge Chairman Jeffrey A. Davis said the four properties, formerly known as the Big Apple portfolio and renamed Cottage Living, will be separately owned by investors affiliated with Cambridge Investment and Finance Co. Seller of the four-property portfolio was Big Apple Preschool and Daycare Center of Green Bay, WI.

Cambridge arranged a local banks $4.8 million conventional first mortgage loan to acquire the assets. The 5-year loan, amortized over 25-year period, has a 7 percent interest rate.

The Collins Realty Group Inc. of Madison, WI brokered the transaction.

Davis said three of the four properties are located in Green Bay, including Cottage Living at Marla Vista, 1006 N. Military Avenue, 40 beds; Cottage Living at Lancaster Manor, 1016 N. Military Avenue, 20 beds; and Cottage Living at Carrington Manor, 2626 Finger Road, 20 beds. Cottage Living at Carolina Manor is a 50-bed facility located at 3201 W. First Avenue in Appleton. Cottage Living at Lancaster Manor is currently closed but will reopen in the fall.

Davis said SHM, which currently manages nine properties in Iowa, brings the talents and skills of an exceptional healthcare management firm to Wisconsin for the first time.

SHM works as a partner with owners to achieve the highest quality of service and financial success. At each property, residents are the first priority, he noted.

Innovative programming and good communication systems have enabled the firm to establish an exceptional track record. Notably, the firm has demonstrated an ability to establish repeatable processes and systems that produced predictable outcomes, he added.

Davis said Cambridge Investment and Finance Co.s acquisition strategy targets congregate apartments, assisted living facilities, board and care facilities, and skilled and intermediate care nursing homes. The program is national with a $1.5 million purchase minimum.

To date, the company has purchased 11 senior housing properties totaling 1,102 beds in six states. Two of these properties have subsequently been sold, Davis said.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nations leading senior housing and healthcare debt and equity capital providers, closing more than 280 such transactions totaling more than $2 billion since then.

The company is one of the nation`s leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

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 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 a regional office in New York, affiliate office in Los Angeles, and correspondent relationships nationwide. The firm also has established key origination relationships and a dozen or more Internet-based strategies.

Cambridges award-winning Web site, www.cambridgecap.com, provides monthly rate 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. For additional information, contact Cambridge at (312) 357-1601 or via e-mail at info@cambridgecap.com.

Contact:
Katie Trice
Phone: (312) 521-7609
Fax: (312) 521-7649
E-Mail:  kt@cambridgecap.com