Medical Office Building Loans
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Let’s face it, financing the purchase of a medical office building may be a daunting task. Owing to the high expense of building repairs (customized plumbing, construction of consulting rooms, lead walls for an x-ray or surgical units, etc.) and the increased cost of chairs, machinery, and advanced facilities, the acquisition, and reconstruction of a medical office would become a dynamic and expensive undertaking. Speak to Commercial Real Estate Loan Pros of Fort Lauderdale regarding the Medical Office Building Loans.
However, setting up a new private practice (or refinancing the current one) could be one of the most important financial decisions the doctor faces in his whole career. So, whether you’re just a few years away from home or a doctor with decades of experience, you want a trusted financial partner to help you get the resources you need to expand your practice.
Medical Office Building Loans
The medical office building is a particular category of real estate office. These buildings can be either stand-alone or part of an official medical park. Medical office complexes can include a variety of offices for clinicians, contractors, hospitals, and clinics. Medical office building developments are in high demand since they typically have high occupancy rates and long-term leases. However, due to demographic trends, the population, and, of course, the obsolescence of older office buildings, the need for new medical office buildings are rising.
Unique Features
medical office building loans have special and exclusive features. For eg, the DSCR usually starts at 1.20, slightly lower than the regular office buildings. Another drawback of medical office building loans is that we’re going to lend up to 90% of the loan to value, rather than a few regular office building loans. The slightly relaxed lending terms for medical office building loans reflect the viability of the market sector. They have a strong occupancy rate, and residents have always been faithful for decades. The advent of the Affordable Care Act (ACA) has generated more interest in health care from covered people. This, in fact, has contributed to a higher degree of development in medical office buildings.
Common layout
Medical office buildings are also grouped inside medical parks by architects. The ambulance, emergency department, or acute care clinic is typically situated in the middle of these medical parks. The design of medical office buildings would fulfill the requirements of medical practice. This also involves the desire for good energy efficiency, new and stylish formats, and the availability of technologies. A single large facility also represents the whole medical park and handles the lab requirements of several practices. This conserves energy and, most significantly, it will save a large sum of capital.
Similarities between: Office Building Loans and MPC Loans
Office medical park loans are comparable to master-planned community loans, except that construction credit facilities are revolving sources of funds that compensate for the construction of a house and later pay off mini-perm loans. Construction loans are normally interest-only loans. The mini-perm payment will then replenish the construction funds for the next set of homes. Mini-perm loans would potentially be funded on a fixed basis with amortization rates of up to 30 years.
Efficiency
Our dedication to quality and openness lets you prevent expensive errors. We’re working hard to streamline the whole loan phase, from the start of the discussion to the day you get your money. We’ll keep you up-to-date during your relationship with us. By making the most of next-generation technologies, your loan would pass smoothly across each level. Our seasoned team understands that your time is valuable, and we won’t waste any of it.
Our Service
We aspire to deliver unmatched support and unwavering contribution to your progress. Our clients are at the core of everything we do at Commercial Real Estate Loan Pros of Fort Lauderdale. We want to claim that we consider every consumer as our only customer, and we truly believe that. Your expectations, your aspirations, and your ambitions have a lot of weight – that’s what we’re working together to accomplish. It’s just how we work, moving beyond and above you. We can just claim that we are only as good because of you, but we’re going to do everything in our power to make that possible.
Will you require a loan for a private medical practice?
The lack of doctors almost generates a bidding mechanism to recruit and keep good-quality physicians to work at the moment. In saying that, it is important to speak to a financial professional, such as an accountant or financial advisor, before buying a medical practice.
If you think you’re about to take the next major move in your career, speak to one of our mortgage brokers today.
We are experts in business loans to physicians, and we recognize that we are making a good case so that you have the best chance of getting accepted. Get your pre-approval before you start looking for a perfect practice. If you operate in the medical field, Commercial Real Estate Loan Pros of Fort Lauderdale will make it simpler to fund all forms of your small, medium to large building ventures, whether its for your current home or investment property.
We will also educate you about the proper preparation measures involved in finding the best builder, advisors, and builders for your building company, since often projects lack due diligence until the launch of the project. If the proposals are accepted or in the process of being approved and you have estimated building costs, you may either use the current assets to fund the project or use the finished project as security, according to the terms and conditions of the loan. We will also help you monitor your monetary success claims when you hit the landmark of your building.
Upon completion of your project and with ample equity, we will reassess your asset and set up a line of credit to support you to fund your next project, buy a new house or investment property, or even support your lifestyle needs.
With our objectives in mind, our intimate touch, and our technical strategy, we are pleased to assist both medical practitioners and staff in receiving outstanding financial services so that they can meet their financial goals! Apply now for Medical Office Building Loans with the support of our amazing team.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: