MIAMI-United Trust Fund just funded two healthcare facilities. The deals include a 196,000-square-foot to-be-built orthopedic hospital in Springfield, MO and a 225,000-square-foot to-be-built medical office building in Edmond, OK.
Specifically, United Trust Fund infused the Springfield project with $111 million and the Edmond facility with $92 million. These two transactions were structured as a forward funding build-to-suit/sale-leaseback.
“We had completed sale leasebacks on many existing medical office buildings before,” Paul Domb, vice president of Asset Management at United Trust Fund, tells GlobeSt.com. They were motivated by several items, such as off balance sheet treatment. We had to meet a closing deadline of June 30 and fund construction.”
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