$1.1MM Medical Office Development | Southlake, Texas
Terrydale Capital
Sep 5, 2023 3 Min read
Finding competitive financing, especially on a construction project, can be a difficult process in today’s market. However, our client knew to come to Terrydale Capital in order to find it. Today’s deal spotlight centers on the development of a medical office in Southlake, Texas. See how our team worked with the borrower and negotiated with the relevant parties to achieve the most competitive financing terms possible.
What We Were up Against
The borrower came to Terrydale Capital seeking competitive financing for a medical office development in Southlake, Texas. However, due to some specific liquidity and lending issues, some careful navigation was required. Additionally, due to the difficult market, a speculative development project was difficult for many groups to understand. Thus it was difficult for them to offer competitive options for said development.
How We Met Those Challenges
Our team at Terrydale Capital put our negotiating hats on and successfully negotiated for a construction loan on Phase I of the project to allow the construction to commence. This allowed the process of take-out for additional funds and more competitive options for more capital. The strong leasing and sales experience from the sponsorship coupled with creative structuring helped push through with the needed terms. This ultimately positioned it for a quick exit from another lending relationship with Terrydale Capital. At the end of the day, our team was able to secure the following terms:
- $1,100,000 Construction Loan
- 12.75% Floating Rate
- 6-Month Term
- Full-Term Interest Only
- 50% LTV
In Conclusion
At Terrydale Capital, our team understands that every deal requires a unique and creative approach. Our team is prepared to analyze every angle of a deal and put our extensive knowledge and networks to use in order to secure the most competitive financing possible. See how we can finance your next commercial real estate project. Call us today.
Partner With Terrydale Capital for Your Debt Financing Needs
When it comes to debt financing, understanding the right timing, process, and options is crucial. At Terrydale Capital, we provide a comprehensive range of commercial loan solutions tailored to meet your business's unique needs.
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Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. We have close relationships with the nation’s top banks, lenders & family offices allowing us to provide the most competitive financing solutions in the market.
