While commercial loans – especially for real estate development – have all but disappeared since the recession began, money still flows in some sectors.
The greatest lending activity, however, isn’t aimed at large industrial or Class A office campuses. Instead it’s found in senior housing/healthcare projects.
Cambridge Realty Capital Companies, a national lender with a focus on the senior market, said February’s loan origination requests processed rebounded modestly in February, but the dollar volume was up “a robust 21.6 percent over the same month last year,” the Los Angeles-based company said in a statement this week.
Cambridge Chairman Jeffrey A. Davis said the company processed 28 loans totaling $478.2 million in February, compared to 25 loans totaling $393.1 million for the same month last year.
Year-to-date, the lender has already processed 50 loan requests, compared with 52 loans during the first two months of 2009. However, the $852.1 million dollar volume for this year is running about 12 percent ahead of the $757.7 million volume for the same period last year.
The company predicts a rebound in funding activity in 2010 as long as the economy continues to improve.