Rush Capital recently closed permanent financing on Franciscan Medical Plaza in Bonney Lake, WA. The 45,000 SF single tenant medical office building is occupied by CHI Francisan and provides adolescent health, family medicine, internal medicine, obstetrics, pediatrics, primary care and well-child exams. Danny Kruse negotiated a 10 year fixed rate loan with 55% LTV and 25 year amortization with a regional bank.
Rush Capital recently closed permanent financing on Park Plaza in Gig Harbor, WA. The 62,000 SF Class A office/medical office building is occupied by medical, dental and business tenants and offers spectacular views and ample parking. Danny Kruse and Blake Carbonatto negotiated a 10 year fixed rate loan with 75% LTV and 25 year amortization with a community bank.
Both of these refinances allowed the developer, Rush Development, to return capital and improve cash flow to generate far better than expected cash on cash returns.
With the unique market and historically low rates, it may make sense to see if a refinance could benefit you. Rush Capital is able to secure the most competitive rates because it's positioned like few others given its also a borrower of many lenders and can leverage the client relationship to get more attractive terms for its clients.
