CMAC Partners

This Western nephrology group aimed to purchase a new building to start their real estate ownership. CMAC Partners assisted the group in securing competitive financing and restructuring its operating agreement to support future growth. Learn more about this project: https://lnkd.in/e945H2mm #medicalrealestate #physicianowned #realestate #nephrology #california #californiarealestate

CMAC is looking forward to attending the LUGPA ASC Annual Meeting this weekend in Chicago, IL! Find James Winchester and Peter Kokins for insightful discussions on physician-owned real estate. #LUGPA #physicianowned #medicalrealestate

"A couple years ago, I had an eye-opening conversation with a physician at a prestigious orthopedic conference. We were discussing the way the group handles its buy-ins and buyouts, as one of their legacy partners was getting close to retirement. This physician was somewhat concerned about the amount of distributions they would have to let go to buy this partner out, given that the current structure was a note to the retired partner to be paid over three years, and the equity per partner was sitting at over $1MM, with just six partners in total. Once I returned, I ran our 30-year economic model to factor in their existing rental income and corresponding debt obligations so I might ascertain the forecasted distributions. This process revealed that executing a three-year buyout plan would severely strain the financial viability of the entity..." Explore how a tailored approach to operating agreements can prevent similar pitfalls in the future:

This Midwestern orthopedic practice needed a solution for unaffordable partner buyouts that were quickly approaching. CMAC Partners conducted a thorough analysis that allowed the group to restructure its operating agreement and leverage existing properties. Learn more about the project: https://lnkd.in/eFxk9EYR #medicalrealestate #physicianowned #realestate #indiana #orthopedics #indianarealestate

What do real estate buyers mean by "second bite of the apple?" When real estate owners sell their buildings in a sale-leaseback transaction, the "second bite of the apple" is a commonly used phrase referring to owners rolling their proceeds into the purchasing entity's portfolio, thereby capitalizing on a future portfolio sale. Read on to explore how this strategy can turn into a gamble for sellers:

This midwestern orthopedic practice sought to purchase and renovate a building for a new MOB. CMAC performed a comprehensive analysis to help the doctors make an informed decision, ultimately helping the group secure a loan with a high LTV and competitive interest rate. Learn more about the project: https://lnkd.in/exZ7dBQR #medicalrealestate #physicianowned #realestate #plasticsurgery #kansas #kansasrealestate

"In 2021, a group of 10 physician partners invested in the MOB that housed their practice. They financed 85% of the $20MM project cost and contributed the remaining 15% in cash. The rents produced cash-on-cash returns to the doctors of over 10% in the first year. In 2025, two new partners were scheduled to buy in and would have been attributed an ownership share proportionate to their investment against the equity. The new practice partners, however, declined the offer to invest in the real estate and, by doing so, devalued and destabilized the original real estate investment..." The real reason new docs might pass on buying into the real estate may not, in fact, be a lack of interest. So what's the problem?

This Southeastern plastic surgery group needed to refinance a rapidly maturing loan. As a returning client of CMAC, the group knew CMAC's leverage and expertise could secure an improved outcome. Learn more about the project: https://lnkd.in/ewahreSe #medicalrealestate #physicianowned #realestate #plasticsurgery #florida #floridarealestate

The newest edition of The Journal of Physician-Owned Real Estate is now available! Featured articles include "Tailoring Your Operating Agreement - One Size Does Not Fit All," "Top 4 Benefits of Independent Physician Groups Owning Their Real Estate," and "Seller Beware - Are You Sure You Want a Second Bite of the Apple?" Request your copy in the mail: https://lnkd.in/eYBnb8xu View the digital version: https://lnkd.in/emr8aHe7 #physicianowned #medicalrealestate

"Football is back baby! My Bengals are Super Bowl-bound! … or, so I thought. After an 1-3 start, reality is sinking in. No worries though, my UCF Knights are charging on toward Big 12 dominance and a College Football Playoff appearance, am I right? Wait … never mind, we got stomped at home by Deion “Primetime” Sanders and Colorado ... The silver lining is that the Fed came through with a 50-basis point rate cut at the September meeting – the first since 2020. For those of us living in the world of commercial real estate and debt financing, this was pure music to our ears..." Read on for the latest market update for physician-owned real estate. https://lnkd.in/eYMZ5uGX #medicalrealestate #physicianowned #realestate #realestateupdate