$1,580,000 – Term Loan
$600,000 – Working Capital LOC
Recapitalization
Transaction Overview
Compass Commercial Mortgage, Inc. (“Compass”) the exclusive commercial real estate financing consultant for Palmetto Lakes Surgical Center (“Palmetto Lakes”) assisted with the recapitalization of an ambulatory surgical center located in Hialeah, Florida. The subject consists of a 6,545 SF commercial condominium unit located on the ground floor of the Village Bank Center. The subject is 100% occupied by Palmetto Lakes.
Compass Role
Compass assisted Palmetto Lakes by proactively managing the loan process and negotiating superior loan terms which accomplished all of the following objectives (i) negotiated competitive owner-occupied financing consolidating the existing real estate term loan and operating line of credit into a new real estate term loan, (ii) negotiated superior terms for a new working capital line of credit to be used as a bridge for the collection of accounts receivable, (iii) negotiated a competitive declining prepayment penalty on the real estate term loan allowing the Borrower to prepay loan principal from cash flow and refinance should interest rates decline. There is no prepayment penalty on the working capital line of credit.
Palmetto Lakes Surgical Center
Palmetto Lakes Surgical Center is a state-of-the-art surgical facility located in Hialeah, Florida. Palmetto Lakes was designed with convenience in mind, providing a multi-specialty professional space for surgeons and specialists to deliver the most advanced patient care. The result is a comfortable, patient-focused environment, free from the inconveniences often associated with hospital-based care.