Central Park Ear, Nose and Throat

Project Details

Financing Type:
Refinance and Cash Out
Central Park ENT refinanced its medical office building and stripped out several million dollars of cash to facilitate new partner buy-in. In the refinance, a burn-off provision of personal guarantees was structured to eliminate recourse after two years. The loan was closed with a national bank at a low rate for ten years.

Aside from the outstanding professionalism and diligence displayed by CMAC throughout our effort to consider various refinancing options, perhaps the most impressive feature was their ability to tap not only local but some predominantly out of area lenders which led to a more spirited and aggressive competition to secure our business.
Stephen Blake, CEO