Palm Beach Gardens Based Mortgage Bankers Arrange Quasi Owner Occupied Financing for Medical Office Building


Transaction Overview

Compass Commercial Mortgage, Inc. was selected as the exclusive commercial real estate finance consultant to Donkor MD Holdings, LLC related to the acquisition of a two-story, medical office building containing approximately 8,470 Rentable SF. The improvements were constructed in 2003 and situated on 0.57 Acres. The property was purchased by a prominent bariatric and general surgeon. At the time of purchase, the property was 70% occupied by DaVita Dialysis. The remaining 30% will be occupied by the Buyer's new surgical practice.

The subject property is located just west of Nova Southeastern University and Broward Community College. It is also strategically located in close proximity to four area HCA hospitals which the Buyer has privileges. These hospitals provide the Buyer with a large pool of referral-based patients.

Compass Role

Compass was referred to this deal by a prominent regional banking institution that was unable to extend terms due to the start-up nature of the Borrower. On behalf of Dr. Donkor, Compass undertook an effort to identify a lender capable of providing owner-occupied financing terms on a quasi owner occupied property while also meeting a sub-30-day closing deadline. Compass moved expeditiously on the request approaching a select pool of active banking institutions capable of providing competitive terms and meeting the tight closing deadline. Ultimately, Donkor came to terms with a Broward based community banking institution.

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