$7,200,000 Medical Office Bridge Loan Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $7.2MM bridge loan refinance for a Medical Office Property in Austin, Texas. 

The ownership is Medical Office mandated Acquisition Fund and was running into a loan maturity with their existing lender. A previous bank failed to close on the refinance so the fund was running out of time to make their maturity obligation.

513 Capital was able to arrange bridge loan approval in less than 10 days which closed within 30 days. The ownership has no prepayment obligations so they can execute any one of their business plan takeout strategies whenever and without penalty.

513 Capital specializes in bank, SBA, CMBS, and private commercial real estate funding.

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