Portfolio

Ogden Clinic

Project Details


Financing Type:
New Construction
Amount:
$12,400,000
State:
Utah
This Western multispecialty group decided to build a new medical office building and ambulatory surgery center to facilitate the expansion of its practice. Throughout the financing process, CMAC was able to maximize the appraised value and ultimately secure a loan to fund the entire project. Educational presentations surrounding interest rate swaps helped the physicians make strategic decisions, and the loan closed with an advantageous interest rate.

When the process began to slow, CMAC put pressure on the bank to keep things moving forward to closing, even negotiating for the bank to waive the origination fee. The practice partners were pleased that CMAC’s RFP process provided an opportunity to find a lender that was a better fit for the goals and growth of the practice.