Portfolio

Tower Clock Eye Center

Project Details


Financing Type:
Ownership Consolidation & New ASC
Amount:
$9,000,000
State:
Wisconson
This ophthalmology group aimed to consolidate the ownership of several different real estate entities across multiple properties as well as secure financing to renovate an existing building into an ambulatory surgery center. CMAC strategized with the group to refinance its existing debt and leverage up to facilitate ownership equalization, which led to a more affordable buy-in for the single non-real estate partner.

This transaction also eliminated the cash equity required from the doctors for construction to convert the clinic space into a surgery facility. The group was pleased to ultimately stay with its incumbent bank and close with an improved interest rate and spread. The ASC project is slated to be completed in summer 2024.