MedCapital Group Provides $2,500,000 Non-Recourse Permanent Financing for Medical Office Building
Dallas, Texas - May 31, 2007 - MedCapital Group announces non-recourse permanent financing in the amount of $2,500,000. The recently renovated 9,000 square foot office building located in northern New Jersey includes an ambulatory surgery center and medical office space.
MedCapital was called upon to structure a non-recourse solution to maximize cash out and secure long term fixed rate financing in a rising interest rate environment. The non-recourse solution included a 6.43% fixed rate with a 10 year term and 25 year amortization and $600,000 cash out.
"Once again we met our client's aggressive objectives." stated Todd Tidmore, Managing Director of MedCapital Group. "Though non-recourse long term fixed rate financing can be challenging for small loan amount projects such as this, we were able to place this loan with one of our many lending sources and meet our client's goals."
MedCapital Group specializes in providing financing for medical real estate including medical office buildings, ambulatory surgery centers, short-stay hospitals, imaging centers, and other medical related real estate throughout the United States.