FHA / GNMA Insured Mortgage Loan
St. Francis Hospital, Inc. in Columbus, Georgia, has a very successful cardiovascular practice that was straining the physical capabilities of its existing plant. St. Francis also desired to make its patient care system more efficient with additional prep and recovery spaces, expand its emergency room capabilities, and construct a new Medical Office Building. The Hospital had selected architects to renovate its older areas, some of which date back to 1949, and to design a new clinical services tower, medical office building and expanded parking. The Project also needed to commence within the limited construction window under the Hospital’s certificate of need. Refunding some $50 million in tax-exempt bonds, the project also needed to refinance debt on an assisted living facility and a behavioral health hospital. St. Francis and its underwriter called upon the AMS team to understand and coordinate the real estate, environmental and regulatory demands of the project. AMS quickly put together and executed a plan to obtain FHA insurance, prepared an application to FHA and worked to enable construction on the project prior to the state deadline.