Acquisition, construction, installation and equipping of a new 40,000 square foot medical office facility. Project allowed Digestive Disease Consultants to expand their practice by adding exam rooms, additional beds and procedure rooms.
The client was seeking very long-term fixed-rate financing for the project. As the project neared closing and ready to issue bonds, the credit market entered a period of multiple interest rate increases. The parties worked together to deliver a competitive financing structure, allowing the project to move forward.
Digestive Disease Consultants was able to access investment grade interest rates and finance their project over a 20 year long-term fixed-rate basis through the DFA Jobs & Investment Bond Fund Program. Through a capital lease structure the Port was able to deliver sales tax savings on construction materials related to the Project.
Project Cost: $6 million
$6,000,000 - DFA Jobs & Investment Bond Fund
$ 119,878 - Project Fund Earnings
$6,119,878 - Total
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