If you’re looking to acquire real estate for a healthcare business, a few different financing options are available to you. One of the first questions you will need to ask yourself is whether you want to lease or own the commercial property you choose for your business or practice. If you opt to buy, several different loan options are available to finance your mortgage. Below is an overview of the primary financing options available to healthcare professionals.

 

Leasing

Especially if you are just starting out as a professional in the healthcare field, leasing might be your best option. It is less permanent than buying, so it’s much easier to move on to the following location if the space or location doesn’t work out for you. However, if you or your physician group is looking for at least ten years of practice, buying will likely be a better investment in the long run. Overall, whether you lease or buy will depend on the size of your practice and your vision for the future.

 

Commercial Real Estate Loans

Commercial real estate loans are the standard way most healthcare professionals finance their real estate. These often come from a bank, although there are some other sources. You will likely want to employ a commercial mortgage professional familiar with healthcare real estate. They will be able to guide you through the process and help you find a loan that is appropriate for you, your practice, and the property you choose. 

 

CPACE Loans

CPACE is a specific kind of commercial real estate loan–it stands for Commercial Property-Assessed Clean Energy. These loans allow you to borrow money for “Qualified Improvements” that might include updates to a property’s energy efficiency, increased use of renewable energy, or other sustainable updates. Additionally, these loans generally have lower interest rates than typical mortgages. These loans aren’t available in every state but might be worth considering if you are interested in refinancing an existing mortgage while also making sustainable improvements to your property.

 

Especially when it comes to loans, many different options are available depending on your needs. Hopefully, this is a helpful introduction to healthcare real estate financing; reach out to a commercial real estate professional today to find available properties and discuss what options might be most appropriate for your needs!