$4.3MM Pennsylvania Healthcare

Transaction Highlights

  • Total financing of $4.3MM across 4 properties
  • LTV of 9% and CLTV of 75%
  • 25 years fixed
  • Interest-Only Period for a year
  • Non-recourse with no covenants
c-pace:

$4.3MM

LTV:

9%

Type:

Retrofit

Buuiding

Healthcare

term:

25 Years Fixed

Status:

Closed

Project Description

A former historic hospital campus had been converted into a multi-use medical facility with multiple tenants and buildings served by a failing central plant that needed replacement. Ownership needed additional capital for operations after paying for some of the required upgrades.

The campus was able to secure C-PACE financing from Bayview to pay for previous mechanical capital expenditures and a new steam boiler and chiller to serve the campus without having to request the existing lender to modify their loan.