Refinance & New Construction
This large multi-specialty group aimed to improve the financing terms it held with its long-time banking partner. Because of the strong bank relationship, the physician-owners wished to give the lender every chance to win the CMAC competitive bidding process. CMAC sent RFPs to multiple banks, bringing enhanced rates and terms to the Tanner Clinic. Though the incumbent returned with a significantly improved offer, it didn’t quite match the best option that CMAC negotiated on Tanner Clinic’s behalf.
Months later, the group also secured a new construction loan at 80% loan-to-value with no personal guarantees and is in the process of building a new MOB, which is slated to open in the spring of 2023.