Ascension St. Vincent Orthopedic Hospital

Project Details

Financing Type:
New Construction
The doctors wanted construction financing for a proposed 135,000 sf, physician-owned, specialty hospital, with the complication of TIF (Tax Increment Financing) funds. There was no corporate guarantee or lucrative depository relationship to offer bidding banks. The doctors also aimed to minimize personal guarantees and cash needed to close. After months of negotiations with banks regarding their HVCRE (High Volatility Commercial Real Estate) regulations, CMAC successfully closed financing that required very little cash equity.