Ready Capital Provides $5.6M Acquisition Loan for Medical Office Building in Richmond

RICHMOND, VA. — Ready Capital Structured Finance has provided a $5.6 million acquisition loan for an approximately 40,000-square-foot medical office facility located at 7301 Forest Ave. in Richmond’s West End. The undisclosed borrower will use proceeds from the floating-rate loan to renovate and lease up the asset. The interest-only, non-recourse loan features a 36-month term with two extension options. The medical office building is situated less than a mile from Henrico Doctors’ Hospital, a 340-bed community hospital operated by HCA Virginia.