Project Details
Project Type:
Refinance
Amount:
$16,000,000
State:
North Carolina
Formerly OrthoWilmington
The two largest orthopedic groups in the area were planning to merge operations but wanted to keep real estate entities separate. CMAC was hired to secure financing to cover both properties and overcome the low property values at that time. The loan-to-value of 115% was covered by structuring two loans on each property.