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Medical net lease

Dialysis and Medical NNN Loans.

Financing for dialysis clinics leased to DaVita and Fresenius, dental offices, and medical buildings on net leases. Medical tenants invest heavily in their space and rarely move, and the loan is built to reflect that.

Get a QuoteSee typical terms
Program Snapshot
$1M
Min loan
$30M
Max loan
65%
Maximum LTV
$0
Prepayment penalty
On qualifying loans
Up to 75% on our commercial DSCR loans
Sell or refinance at any time on qualifying loans
DSCR 1.35x. On a 30 year amortization
Rate 1.80% to 2.20%. Over the 5 year Treasury, fixed for 5 years
Dialysis, dental, and medical
Get a Quote
Program Overview

Medical tenants don't move.

A dialysis clinic spends heavily on plumbing, water treatment, and patient stations, and its patients come three times a week. Moving is expensive and disrupts care, so these tenants renew. That's why clinics leased to DaVita and Fresenius are a staple for net lease buyers, and why established dental groups are some of the strongest tenants in net lease.

The loan is based on the lease: the tenant, the guaranty, and the years left. Multi-tenant medical buildings are eligible too, based on the full rent roll. With no prepayment penalty, you can sell or refinance whenever a renewal or a buyer makes the timing right.

Typical terms

What you can typically borrow

On dialysis and medical NNN properties, loan amounts typically range from $1 million to $30 million, up to 65% of value, with no prepayment penalty.

These are typical ranges, not a quote. Your rate and loan amount depend on the tenant, the lease, the property, and your credit.

Loan amount
$1,000,000 to $30,000,000
Loan purpose
Purchase, refinance, and cash outIncluding 1031 exchange purchases
Maximum LTV
Up to 65%Up to 75% on our commercial DSCR loans
Loan term
5 year fixed
Amortization
30 yearLonger than the 20 to 25 years most banks offer
Minimum DSCR
1.35xAs low as 0.9x on our commercial DSCR loans
Tenant type
Dialysis, dental, and outpatientSingle and multi-tenant medical
Prepayment penalty
NoneSell or refinance at any time on qualifying loans
Rate
Roughly 1.80% to 2.20% over the 5 year TreasuryFixed for the term
Recourse
Personal guaranty
Guaranty
Corporate or established practiceNational operators are strongest
Lease
Years remaining reviewedRenewal history considered
Build-out
Medical improvementsConsidered in the value
Available in
35 statesAL, AK, AR, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MS, MO, MT, NE, NH, NM, OH, OK, PA, SC, TN, TX, VA, WA, WV, WI, WY

These are typical terms. Yours depend on the tenant, the guaranty, the lease, and the property.

Buying or refinancing a medical net lease property?
Send the lease and the address, and we'll come back with terms.
Get a Quote
Where it fits

Medical properties we see

DaVita

Dialysis clinics on long corporate leases.

Fresenius

Dialysis clinics leased to Fresenius Kidney Care.

Dental offices

Single-tenant buildings leased to dental groups and established practices.

Multi-tenant medical

Medical buildings with several physician and outpatient tenants.

Urgent care and outpatient

Freestanding clinics on retail corridors.

Practice-owned buildings

Your practice leases the building from a separate company you own.

Brand names describe the kinds of tenants we like. They aren't affiliated with Capituro.

Who this is for

Built for medical property owners and buyers

For investors who own medical buildings, and practices that own their buildings through a separate company.

Get a Quote
1

You're buying a dialysis clinic with 1031 money

Terms early in your identification window, and a closing scheduled to your deadline.

2

Your tenant renewed

A fresh lease term can support more loan. Take cash out for the next property.

3

Your bank loan is maturing

Refinance onto a 30 year amortization and a fixed rate.

4

Your practice owns the building

Financed on the lease between your practice and the company that owns the building.

The process

From first call to closing

01

Tell us about the property

The address, the tenant, and what you want the loan to do. The lease is all it takes to start.

02

See your terms

The loan amount, the rate, and what it takes to close, before you pay for an appraisal.

03

We do the legwork

Appraisal, environmental, title, and insurance get ordered and kept on schedule. On a 1031 purchase, the schedule is built around your closing deadline.

04

Close and fund

Loan documents signed and the loan funded on your closing date.

Ready to move on a property?
Send the lease and the address, and we'll come back with terms quickly.
Get a Quote
Medical NNN Questions

Frequently asked

How do you finance a dialysis clinic property?+
The loan is based on the lease: the rent, the operator's guaranty, and the years remaining. Purchase, refinance, and cash out are all available, from $1 million to $30 million, with no prepayment penalty.
Can I get a loan on a DaVita property?+
Yes. DaVita is the largest dialysis operator in the country, and its clinics are usually on long corporate leases. The loan is based on the lease and the years remaining.
Can I get a loan on a Fresenius property?+
Yes. Fresenius Kidney Care clinics are on corporate leases backed by one of the largest healthcare companies in the world, and they're a strong fit.
Why are dialysis tenants considered strong?+
Dialysis operators spend heavily on each clinic's build-out, and patients come several times a week from the surrounding area. Relocating is expensive and disrupts care, so these tenants tend to renew.
Are multi-tenant medical buildings eligible?+
Yes. The loan is based on the full rent roll, with each tenant's lease reviewed. Medical office in Metro Atlanta also has its own terms on our Metro Atlanta Medical Office Building Loans page.
My practice owns the building. Can I get a loan on it?+
Yes, if the building is owned by a separate company that leases it to your practice. The loan is based on that lease.
Can I buy a medical property with a 1031 exchange?+
Yes. Send the property as soon as it's under contract, and we'll come back with terms early enough to keep your exchange on schedule.
Can I get more than 65% of value, or a smaller loan?+
Yes, through our commercial DSCR loans. They reach up to 75% of value, start at $200,000, need no minimum DSCR on loans under $500,000 and 0.9x above that, and offer terms up to a 30 year fixed. Buildings leased to local businesses fit there too. The tradeoff is that most carry a step-down prepayment instead of none. See our Office DSCR loans.
Where does Capituro offer medical NNN loans?+
In 35 states: Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. Very rural areas within these states may be restricted. Send the address and we'll confirm your property fits.
Get Started

Own or buying a medical property? Let's look at the loan.

Send the numbers and the address, and we'll come back with loan terms.

Step 1 of 5

What are you looking to do?

Other programs

NET LEASE

NNN and Net Lease Loans

Every net lease property type, in one place.

COMMERCIAL

Office

Medical, professional, and multi-tenant office.

REFINANCE

Cash Out Refinance

Take equity out of a property you already own.