Medical Office Financing.
Every Building Type. Every Market.
On-campus and off-campus medical office buildings, and outpatient surgery centers. 30 markets covered. Life company, CMBS, bank, and SBA execution. Healthcare tenancy and lease structure drive the lender fit. We place each MOB and ASC with the right capital source.
Three Medical Office Programs. One Broker.
Medical office underwriting centers on healthcare system affiliation, tenancy credit quality, lease structure, and the mix of clinical versus administrative use. On-campus MOBs benefit from hospital system affiliation and are favored by life companies. Off-campus MOBs require tenant credit analysis. Outpatient surgery centers add licensure and procedure volume to the underwriting checklist.
On-Campus Medical Office Financing
Medical office buildings on or immediately adjacent to hospital campuses with health system affiliation. Preferred by life companies and institutional lenders for strong credit tenancy, long leases, and high renewal probability. Often triple-net or modified gross leases with hospital system guarantees.
Off-Campus Medical Office Financing
Freestanding medical office buildings in community and suburban settings without direct hospital campus affiliation. Underwriting focuses on tenant credit quality, lease term, and specialty mix. Broad lender appetite for stabilized multi-tenant MOBs with healthcare system-affiliated anchor tenants.
Outpatient Surgery Center Financing
Licensed ambulatory surgery centers (ASCs) and outpatient procedure facilities. Lender underwriting adds Medicare and state licensure, procedure volume, and physician ownership structure to the standard MOB checklist. SBA 7(a) and 504 are strong fits for physician-owned ASCs.
Coverage Across 30 US Markets
City-specific market intelligence, active lender commentary, and program-level financing guides for every major US metropolitan market. Select a city to see lender appetite, underwriting notes, and deal structure for your specific program type.
Deep Dives by Program Type
Long-form financing guides for each program type, written by a commercial mortgage broker who closes these deals, not a content team learning the asset class.
On-Campus Medical Office Financing Guide
Rates, lender types, underwriting criteria, and deal structure for on-campus medical office financing financing. Written by a commercial mortgage broker who closes these deals.
Read guide →Off-Campus Medical Office Financing Guide
Rates, lender types, underwriting criteria, and deal structure for off-campus medical office financing financing. Written by a commercial mortgage broker who closes these deals.
Read guide →Outpatient Surgery Center Financing Guide
Rates, lender types, underwriting criteria, and deal structure for outpatient surgery center financing financing. Written by a commercial mortgage broker who closes these deals.
Read guide →Frequently Asked Questions
Answers from a broker who closes medical office deals, not a chatbot or a FAQ template.
What makes medical office buildings attractive to lenders?
Medical office buildings have structural lending advantages: healthcare tenants have high build-out investment and low propensity to relocate, creating above-average lease renewal rates. Hospital system affiliates and physician groups with durable patient bases provide more predictable cash flows than typical commercial tenants. On-campus MOBs with health system guarantees on leases are among the highest-quality collateral types in commercial real estate lending.
How does SBA financing work for medical office?
SBA 7(a) and SBA 504 are strong fits for physician-owned and healthcare operator-owned medical office and outpatient surgery centers. SBA 504 provides up to 90 percent combined LTV using a conventional first mortgage plus SBA debenture, with a 25-year fixed rate on the SBA portion. SBA 7(a) provides more flexibility including working capital and equipment components. Owner-occupancy of at least 51 percent is required.
What is the difference between on-campus and off-campus MOB financing?
On-campus MOBs with health system affiliation and lease guarantees from investment-grade hospital systems typically attract life company and CMBS execution at tighter spreads. Off-campus MOBs rely on tenant credit analysis across physician groups, specialty practices, and community health organizations, which requires more lender familiarity with healthcare tenancy. The lender universe for off-campus MOBs is broad but the underwriting is more nuanced.
What do lenders look for in outpatient surgery center underwriting?
ASC lenders add state licensure and accreditation status, Medicare certification, procedure volume and revenue per case, physician ownership concentration, and payor mix analysis to the standard commercial real estate checklist. A center where one or two physicians drive the majority of procedures is a concentration risk that most permanent lenders will not accept. A diversified physician ownership with multiple specialties and stable case volume is the preferred underwriting profile.
Which markets have the strongest medical office lender appetite?
Medical office lender appetite is strongest in major healthcare markets with established hospital systems, growing physician populations, and demographic demand for outpatient services. Markets including Houston, Dallas, Phoenix, Atlanta, and Nashville draw strong lender interest due to population growth and healthcare infrastructure. Dense coastal markets like Los Angeles and New York have strong demand but higher construction cost and tighter competition for well-located MOB sites.
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