Marcus & Millichap Arranges $13.3M Refinance Loan For Progressive Health Of Batesville Hospital

The property involved is a rural emergency hospital located at 303 Medical Center Drive in Batesville, MI. This asset type is designated as a hospital with a loan amount of $13,300,000 for refinancing purposes. The financing includes a five-year term featuring an interest rate of 8.5 percent, a 30-year amortization period, and a 75 percent loan-to-value ratio.

Summary of transaction details:

• Property Type: Hospital
• Transaction Amount: $13,300,000
• Loan Type: Refinance
• Loan Terms: five-year loan with an 8.5 percent interest rate
• Amortization Period: 30 years
• Loan-to-Value Ratio: 75%
• Broker: Steven Rock - Marcus & Millichap

Marcus & Millichap Capital Corp. facilitated the refinance of Progressive Health of Batesville through Steven Rock with a national credit union service organization. This arrangement underscores the role of the brokerage in securing financing for the hospital's operational needs.