I would like to put together a medical office building project on land I own. Where can I find information?

I have a lot of equity and in commercial land I own next to a hospital. I would like to build a medical office building. I think it would be a joint venture of some type to be able to fund the project. I would like to put together a plan before I approach others to invest. So I am looking for information on how to set up a joint venture or some other type of structure to put the project together. All sugestions will be appreciated.
In General Area - Asked by Terri W. - Aug 12, 2009
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Answer(s)

Judith E.
Lender/Mortgage Broker
Danbury, CT

FNMA/FHLLC and FHA like medical buildings. Whatever your intent, whether you look to use the equity in your land, or take on a partner, you will need a market feasibility study and all of your entitlements for any of the above to look at your funding request. As far as taking on a JV, if there is enough "skin in the project" you would likely contact a commercial realtor or a commercial broker/lender to do a search for you. The more equity you have in that land, the better your chances are of doing this alone or with a partner(s).

Aug 12, 2009
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Jeffrey W. L.
Broker/Agent
Fresno, CA

Hi Terri,
Depending on what part of the country you are in, you might be able to find a broker experienced with healthcare facility projects. The right broker will represent you and be able to advise you on your feasibility, your proforma and potential joint venturers with a proven track record of successful jv medical office development.

Aug 12, 2009
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Roy B.
Broker/Agent
South Padre Island, TX

Depending on how large of a development you have in mind, you may consider condo office suites sold directly to Doctors. We could help you with financing to Drs if their requirements are under $2 mil per condo. Then you do not need JV Partners just to pre sell condos to Drs then you get your cash out at closing.
Roy Bailey Real Estae and Mortguage Broker South Padre Island, TX

Aug 12, 2009
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Gregory G.
Broker/Agent
San Francisco, CA

How is the land zoned?

Aug 14, 2009
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