Draper, Utah – Mazuma Capital today announces it has completed a $4.8 million lease facility for a western not-for-profit healthcare provider. The hallmark of the company is honoring diverse issues on a community-by-community basis within an omnibus healthcare system spanning multiple states.
Most large healthcare conglomerates attract willing lenders. This lessee was no different, drawing multiple money-center institutions offering senior principal commitments totaling nearly a billion dollars to finance budgeted projects. However, crafting a transaction that was both effective and flexible-and largely soft costs-was a deal only Mazuma could bring to fruition.
In addition to capital equipment, 80% of the lease was for soft costs, and none of the company’s incumbent lenders could provide financing for such ethereal collateral. The company also had multiple objectives concerning the tax and accounting treatment of the lease, and we were able to provide them with a creative structure that met their needs.
“They needed a lease structure that would allow them to fund their projects over a 10-month period without incurring additional origination fees or punitive interest on idle capital,” said Matt Burrows, Executive Vice President of Sales for Mazuma Capital. “We did this by structuring the deal into four separate schedules under a master lease agreement that mirrors their senior credit facility agreement.”