Cambridge Realty Capital

What Cambridge Realty Capital does

Cambridge Realty Capital is a Chicago-based private financial services firm specializing in senior housing and healthcare real estate financing. Founded in the early 1980s and headquartered at 312-357-1601, the company operates through core subsidiaries including Cambridge Realty Capital Ltd. of Illinois (the FHA-insured HUD loan underwriting entity) and Cambridge Investment and Finance Co. Since the early 1990s, Cambridge has specialized exclusively in senior housing capital, originating loans for skilled nursing facilities, assisted living communities, memory care properties, and affordable senior apartment buildings across 23+ states.

The company's core products span three categories: HUD-insured mortgages (Section 232 for skilled nursing/assisted living, Section 223(f) for refinances, Section 207 for multifamily senior housing, and Section 241(a) for construction), the proprietary Signature Bridge Loan program for interim financing pending HUD qualification, and conventional debt financing arranged through a network of senior housing lenders. Notable productized differentiators include the Express Lane program (achieving commitments in as few as three days versus standard multi-week timelines) and the Early Rate Lock offering for interest rate risk mitigation. Cambridge underwrites through an in-house team led by senior underwriters and capital markets professionals with 25+ years of tenure.

The business model is transaction-fee based: Cambridge earns origination fees and spreads on HUD-insured loan production, arrangement fees on conventional debt placements, and interest plus origination fees on bridge loan financing. Cumulative transaction volume exceeds $7.05 billion across 550+ closed deals and 117,183 beds/units financed. Go-to-market is direct enterprise field sales targeting senior housing operators, owners, and investors, supported by event-driven relationship building through longtime sponsorship of NIC conferences (since 1992), eCap Healthcare Summit, and eCapWest. Following the 2025 passing of founder Jeff Davis, Andrew L. Erkes leads the firm as President.

Name

Cambridge Realty Capital

Legal name

Cambridge Realty Capital Companies

Website

https://cambridgecap.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Short description

Cambridge Realty Capital is a Chicago-based private lender specializing in HUD-insured and conventional financing for senior housing and healthcare properties, including skilled nursing, assisted living, memory care, and affordable senior apartments, with $7B+ in cumulative transactions across 550+ deals since the early 1990s.

Ownership category

akta.pro rank

Product category

Senior Housing and Healthcare Real Estate Financing

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Offices of Real Estate Agents and Brokers (5312)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)

akta.pro primary industry

Commercial Mortgage Brokerage (FSAEAEAB)

akta.pro secondary industries

Real Estate Capital Markets Brokerage (Debt & Equity Placement) (FSAEAJAK), Hard Money & Private Mortgage Lending Intermediation (FSAEAEAH), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Senior housing lending
• HUD mortgage financing
• Healthcare real estate capital
• Skilled nursing financing
• Assisted living loans

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel

Revenue model

1. HUD Loan Origination: Cambridge originates HUD-insured mortgages for senior housing properties, earning origination fees and spreads on loans underwritten through FHA programs including Section 232 (for nursing homes and healthcare facilities) and Section 207/223(f) (for multifamily). The company specializes in streamlining the HUD application process, offering programs like Express Lane processing and Early Rate Lock to differentiate their service.
2. Conventional Debt Financing: Cambridge arranges conventional loans for senior housing operators, including portfolio refinances and acquisitions. Revenue generated through arrangement fees and loan servicing participation on conventional senior housing debt transactions.
3. Bridge Loan Financing: Cambridge provides bridge-to-HUD financing through its Signature Bridge Loan program, allowing borrowers to acquire properties or access equity before transitioning to permanent HUD financing. Revenue generated through bridge loan origination fees and interest.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Cambridge Realty Capital is a Chicago-based financial services firm that originates and arranges mortgage financing for senior housing and healthcare properties. The company specializes in HUD-insured loans (FHA Section 232, 223(f), 241(a), 207) for skilled nursing, assisted living, memory care, and affordable senior apartment communities, alongside signature bridge-to-HUD loans and conventional senior housing debt arranged through a network of conventional lenders. The firm has arranged more than $6.5 billion across 550+ closed transactions since specializing in senior housing capital in the early 1990s.

Product overview

Cambridge Realty Capital is a financial services firm offering specialized financing solutions for senior housing and healthcare properties. The company operates three primary lending products: HUD 232 Lean Mortgages (streamlined HUD-insured loans for skilled nursing and assisted living), Signature Bridge Loan Financing (interim financing bridging to HUD), and Conventional Debt Financing (through conventional lender networks). Additional offerings include HUD Section 223(f) refinancing, HUD Section 241(a) construction loans, the Express Lane program for expedited processing, and the Early Rate Lock program for interest rate risk mitigation. The company has arranged over $7 billion in transactions since the early 1990s.

Differentiator

Problem solved

Functional benefit

Products and services

• HUD 232 Lean Mortgages

Quantifiable outcome

• Express Lane processing can achieve commitment in 3-5 calendar days vs. weeks or months in standard queue
• +2 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and key.

• National Investment Center for Seniors Housing & Care (NIC)coreStrategic or Co-development PartnerCambridge has been a longtime supporter and sponsor of NIC conferences since the inaugural event in 1992. NIC brings together senior housing operators, owners, lenders, and investors for networking and deal-making. Cambridge sponsors events and hosts 'huddle spaces' for meetings during conferences.
• eCap EventskeyStrategic or Co-development PartnerCambridge sponsors eCapWest and eCap Healthcare Summit as Gold/Platinum sponsor. These events are premier networking venues for skilled nursing facility leaders, bankers, lenders, brokers, owners, and operators to exchange ideas and explore financing opportunities.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Capital Funding Group (CFG): CFG is a healthcare-focused FHA-approved HUD lender specializing in senior housing and skilled nursing financing, offering bridge, permanent, and construction loans. Direct competitor to Cambridge in the HUD Section 232 senior housing lending market.
• HJ Sims: HJ Sims is an investment bank specializing in senior living, healthcare, and housing finance, offering FHA/HUD loans, conventional debt, and capital advisory. Direct comparable to Cambridge's senior housing lending and capital advisory focus.
• Dougherty Mortgage LLC: Dougherty Mortgage is an FHA-approved HUD lender with active healthcare and multifamily origination. Competes with Cambridge for HUD-insured senior housing and assisted living financings across multiple states.
• Love Funding: Love Funding is an FHA-approved multifamily and healthcare HUD lender specializing in Section 232 senior housing loans. Direct peer to Cambridge in the niche of HUD-insured financing for skilled nursing and assisted living facilities.
• Blueprint Healthcare Real Estate Advisors: Blueprint Healthcare Real Estate Advisors provides capital advisory and debt placement for senior housing and skilled nursing operators. Comparable to Cambridge's conventional and bridge financing capabilities, with similar focus on senior living capital markets.
• Greystone & Co. Greystone is a leading commercial real estate finance and advisory firm with a dedicated healthcare lending platform offering FHA-insured HUD loans for senior housing, skilled nursing, and assisted living—directly comparable to Cambridge's core Section 232/223(f) origination business.
• Lancaster Pollard (ORIX Real Estate Capital): Lancaster Pollard, now part of ORIX Real Estate Capital, is a premier FHA-approved HUD healthcare and senior housing lender. Direct peer offering HUD-insured loans, bridge financing, and conventional senior living capital solutions similar to Cambridge's product suite.

Broad incumbents

• Walker & Dunlop: Walker & Dunlop is one of the largest commercial real estate finance companies in the U.S., with a substantial healthcare and multifamily HUD lending platform. Overlaps with Cambridge on FHA-insured senior housing loans but operates at much larger scale across broader property types.
• JLL Capital Markets: JLL's Capital Markets division arranges debt and equity for senior housing and healthcare real estate transactions, including HUD-insured financings. Broad incumbent with senior housing exposure but not specialized exclusively in FHA Section 232 like Cambridge.
• Ziegler: Ziegler is an investment bank focused on senior living, healthcare, and education sectors, providing capital advisory and FHA financing services. Comparable to Cambridge's senior housing advisory and HUD origination capabilities, though broader in scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cambridgecap
• Facebookfacebook.com/cambridgecap
• LinkedInlinkedin.com/company/cambridge-realty-capital-companies

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cambridge Realty Capital