MedCapital Group Provides $10,840,000 in Financing for Medical Office Complex
Dallas, Texas - June 19, 2006 - MedCapital Group announces $10,840,000 in permanent financing for a medical office building complex in Henderson, Nevada. The 51,000 square foot three building complex includes a multi-tenant medical office building and two single tenant medical office buildings.
MedCapital structured a financing solution at 6.27% interest rate fixed for a ten year term and a twenty-five year amortization period. The structure also included limited personal recourse across the portfolio and provided more than $2,000,000 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." stated Todd Tidmore, Managing Director of MedCapital Group. "We are particularly pleased we were able to fulfill 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, short-stay hospitals, imaging centers, and other medical related real estate throughout the United States.