MedCapital Group Provides $10.8 Million in Financing for Medical Office Complex

DALLAS --  MedCapital Group announces $10.8 million in permanent financing for a medical office building complex in Henderson, Nev. The 51,000-square-foot, three-building medical office complex includes a multi-tenant building and two single-tenant buildings.

MedCapital structured a financing solution at 6.27 percent interest rate fixed for a 10-year term and a 25-year amortization period.  The structure also included limited personal recourse across the portfolio and provided more than $2 million cash out to the borrower.

"The developer is a long time client who once again called upon us to provide a solution that would limit personal recourse across a portfolio of buildings without cross collateralization and provide for a substantial amount of cash out,” says Todd Tidmore, managing director of MedCapital Group. "We are particularly pleased we were able to fulfill of our client's goals while facing significant challenges of a rising interest rate market combined with a substantial delay in lease up as originally underwritten."

MedCapital Group specializes in providing financing for medical real estate and medical equipment projects including medical office buildings, ambulatory surgery centers, imaging centers, short-stay hospitals, and other medical related real estate throughout the United States.

Source: MedCapital Group