$6,800,000 Multi-tenant Medical Property loan Closed

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $6.8MM Conventional Multi-tenant Medical Property Refinance loan.

The owner of a 4 tenant, 39,000 rsft medical property in Houston, Texas was seeking to refinance and cash out to buy out his partners.

513 Capital was able to secure 6.75% floating rate financing on a 5-year term from a Regional Bank. Ownership elected for floating rate financing as he anticipates rates coming down over the next few years. The bank’s origination fee was .5%. The amortization was 20 years.

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