Medical Eye Specialists

Project Details

Project Type:
New Construction Financing
This independent ophthalmology group in Montana planned to build a new medical office building and ambulatory surgery center and was seeking a high loan-to-value (LTV) loan. CMAC sent a request for proposals to over 15 banks. Despite the request for high LTV and challenges with municipality permitting delays, inflation, supply chain issues, and rising interest rates, CMAC helped the deal to continue moving forward and ultimately secured financing with a low fixed rate. The loan closed with 85% LTV and 18-months of interest-only payments followed by a 10-year term and 25-year amortization. Construction has started and is expected to be completed in December 2023.