ReCap Secures $19-Million loan for NYC's Biggest Privately and Minority Owned Surgical Center

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The team at ReCap NY pulled off another financing deal for Manhattan-based private surgical center to expand.

NEW YORK - April 1, 2019 - eTradeWire -- Real Estate Capital of America (ReCap) has obtained a $19.3 million loan for the largest privately-owned surgical center in New York City.

Gramercy Surgery Center is a pioneer in the surgical field and uses cutting-edge equipment. Because only a handful of privately-owned surgical centers exist, the financing deal was a difficult and challenging assignment. The uniqueness of this business leaves few comparables in the market when assessing real estate value and securing a lender.

Gramercy Surgery Center is a facility that specializes in a multitude of surgical fields, such as: ENT, Urology, Bariatrics, Podiatry and Radiation Oncology. This loan allowed the Manhattan center to expand into a second location and serve diverse patients and physicians in the borough of Queens.

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ReCap specializes in unique loan scenarios, so COO Johnny Su was up for the challenge. The firm was able to secure long-term financing for this client to help grow their business.

Because commercial mortgages are often complicated for a large-scale business operation with specialized services, the assistance of ReCap NY has guided many clients toward the financing they need and may not otherwise have known how to obtain.

With its vast network and strong relationships with lenders, ReCap continues to delivery unparalleled creative financing structures to support its clients and their business. Johnny Su, adds "through the length of the business cycle, our clients always count on us to deliver the financing solution to help them succeed. Because when they win, we win."

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Johnny Su/ReCap

Source: Gramercy Surgery Center
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