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TMG arranged the $12.4M purchase of a NNN medical facility in Texas

Tags: NNN Financing, Medical Office Financing, Commercial loans
Friday, Oct 30, 2020
by Angela Kesselman

The Madison Group (TMG), arranged the $12.4M purchase of a NNN medical facility outside of Austin Texas.

The buyer’s goals were to secure a non-recourse loan on this asset while using 1031 proceeds for the purchase.  The tenant is a local physician who owns several facilities in the market but is not a credit tenant.  TMG was able to close the loan well in advance of the 1031 and contract deadlines. 

The final loan terms were a 30 year amortization and a 7 year call on the transaction with 3 years of interest only payments at a rate of 3.88%.  TMG was able to accommodate the buyers desire to be able to have the option to sell in year 5-7 without a prepayment penalty.

Location:  Texas

Property:  Family Hospital with full functionality of traditional hospital

Loan Amount: $ 7,440,000

Interest Rate:  3.88%

Term:   7 Years

Amortization:   30 Years

Prepayment:   Swap for 5 years, then open prepay

LTV:  60 %

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