Florida Medical Office Loan

GRP Capital is proud to announce the closing of a new Florida medical office loan. Working closely with our Business Associate, Cesar Hernandez, our Florida client is now the owner of her medical office facility.

Previously, our clients were renting their spacious office. Now, however, they were ready to take over ownership, giving them greater control over current and future expenses. The search to find a medical office loan was underway.

Cesar noted, “My client and her team are excellent business owners and trusted professionals in their field. In addition, they really wanted to own their current space, which they had spent a lot of time to customize to their specific needs. Ownership of the property will give them stability, credibility and be the springboard for further business growth.”

Although the clients were very efficient and professional, financing a medical office loan was new territory for them. The GRP Capital team worked in conjunction with the client and the lender. Cesar mentioned, “Keren, our loan processor, really tries to do the work so that our clients can focus on running their business. This is a huge value-add for me and my clients.”

New to commercial real estate? Here are some tips:

• Find out if there is an existing survey! When you are ready to purchase a property, ask the current owner for a recent survey. If one doesn’t exist, this could delay the loan process. We recommend current surveys for all new purchases.

• What can you afford? If you are moving from renting to owning, determine what the true costs of ownership will be. Be sure to include not just debt service (paying your principal and interest), but also insurance, maintenance, utilities and ownership association fees, if applicable.

• Nail down insurance costs: Insurance costs are increasing in many markets. Call your trusted agent to obtain a quote for comprehensive coverage as quickly as you can. It’s important to make sure that insurance is affordable. If you don’t have an agent, ask the seller if they have been satisfied with their insurance coverage and contact their agent.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance or purchase, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.