Start with the tenants and leases
Lenders review who occupies the property, the remaining lease terms, tenant finances, guarantees and renewal risk. A health-system affiliation and a health-system lease guarantee are different facts and should be documented separately.
Allow for improvements and tenant turnover
Medical space can require substantial build-out. Review the improvement budget, responsibility for the work and funding needed if a tenant leaves or expands. Those costs belong in the financing plan.
Choose a structure that fits the property
A stabilized, leased building and a property with vacancies or unfinished improvements may need different loan structures. Owner-occupied facilities also have business cash flow and occupancy considerations.
What to compile
Send the rent roll, lease details, operating statements, property information, proposed improvements and existing debt. Include ground-lease documents if the property is on leased land.