Medical Office Building

[Brandon Gidicsin]

Hi All: 

I wanted to share a deal I am working on. Myself and a few partners (GP Team) have identified a medical office building that checks most of the boxes. I know its not a super popular asset class. We have some equity lined up before going under contact, but figured I'd make a post and see if this would be of interest to the community. Happy to share more details. I did not want to make this super lengthy. 

Just to share a few details: Located in NY (not NYC), $3M raise, 506-C offering for accredited investors. 

My email is [email protected] 

[Paul Azad]

Quote from @Brandon Gidicsin:

Hi All: 

I wanted to share a deal I am working on. Myself and a few partners (GP Team) have identified a medical office building that checks most of the boxes. I know its not a super popular asset class. We have some equity lined up before going under contact, but figured I'd make a post and see if this would be of interest to the community. Happy to share more details. I did not want to make this super lengthy. 

Just to share a few details: Located in NY (not NYC), $3M raise, 506-C offering for accredited investors. 

My email is [email protected] 

Hi Brandon, would love to know more details. How much gross leasable area, how many offices, current vacancy rate, age of building, any proximity to hospital or surgical center, what type of loan product for first lien, variable rate/fixed rate, the terms etc ie SOFR + what spread etc, current NOI, cost per square foot, replacement cost per sq ft, and any and all details you can share, I assume HENRY Capital compensation will be similar to your Fund 1, with 8% preferred and 80/20 split? Thanks

[Ronald Rohde]

Medical office buildings (MOB) is in hot demand! Lots of money going to these sticky tenants, strong demand regardless of economy...

[Brandon Gidicsin]

Quote from @Paul Azad:

Hi Brandon, would love to know more details. How much gross leasable area, how many offices, current vacancy rate, age of building, any proximity to hospital or surgical center, what type of loan product for first lien, variable rate/fixed rate, the terms etc ie SOFR + what spread etc, current NOI, cost per square foot, replacement cost per sq ft, and any and all details you can share, I assume HENRY Capital compensation will be similar to your Fund 1, with 8% preferred and 80/20 split? Thanks

Hi @Paul Azad! I just sent you a separate message. Happy to go into details with you.