MedCapital Group Closes $11.3 Million Financing for Medical Complex

DALLAS -- MedCapital Group announces it has closed $11.3 million in permanent financing for a new medical complex. The loan structure includes a fixed rate of 6.25 percent over a 10-year term with a 25-year amortization. Additionally, the borrowers received over $1.5 million cash-out at closing.

The complex, which consists of four independent buildings with a total of 64,500 rentable square feet, is located in the Las Vegas, Nev. area. The buildings include a 16,700-square-foot multi-discipline ambulatory surgery center, a 5,600-square-foot eye clinic, and two 21,200-square-foot medical office buildings.

"This project was unique in that each of the four buildings are owned by separate, but related borrowing entities," said Todd Tidmore, managing director of MedCapital Group.

"The lender agreed with our proposal that the four facilities created a medical campus, and this strategy allowed us to provide financing that minimized recourse, reduced closing costs and provided a lower fixed rate loan."

MedCapital Group specializes in providing financing for medical equipment and 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.

Source: MedCapital Group

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