Chad O’Connor Of Marcus & Millichap Secures $5.1M Loan For Medical Office In Canal Winchester

A medical office property located at 9695 Basil Western Road in Canal Winchester, Ohio, has been involved in a financial transaction. The asset, which is currently occupied by MedVet, was financed through a construction loan amounting to $5,100,000. The property falls under the medical office category and has specific lending terms that include a 10-year duration, a 6.5 percent interest rate, a 30-year amortization period, and a 60 percent loan-to-value ratio.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $5,100,000
• Loan Type: Construction
• Loan Terms: 10-year loan with a 6.5 percent interest rate and 30-year amortization
• Loan-to-Value Ratio: 60 percent
• Broker: Chad O’Connor - Marcus & Millichap

Chad O’Connor served as the representative for Marcus & Millichap in this transaction, where Marcus & Millichap Capital Corp. facilitated the acquisition loan for the medical office property. The arrangement of the financing was done through a credit union, leveraging O’Connor's expertise in securing loan agreements for commercial real estate assets.