MedCapital Group Provides $5,112,000 in Construction Financing for On-Campus Medical Office Building
Dallas, Texas - February 28, 2007 - MedCapital Group announces $5,112,000 in construction financing at 175 basis points over 30 day LIBOR, 7.07%, with 24 months interest only. The facility is a 28,800 square foot on campus medical office building that is master leased by the hospital to provide additional space for physician offices and ancillary services.
"Our client, a major developer of healthcare facilities, approached us with a challenge to provide financing under specific constraints contained in the development agreement with the hospital." stated Todd Tidmore, Managing Director of MedCapital Group. "We are pleased we were able to structure a deal that accomplished their goals and provided them with a very competitive interest rate at the same time."
MedCapital Group specializes in providing financing for medical real estate projects including medical office buildings, ambulatory surgery centers, short-stay hospitals, imaging centers, and other medical related real estate throughout the United States.