Solution
Our team was able to create a structure that met the needs of Summa and its physicians. The resulting structure includes a 30 year land lease with reversion to the hospital at no cost, taxable bond financing at aggressive rates and physician ownership without the use of cash or debt guarantee (promoter’s interest). The tenants (Summa and physicians) will realize very competitive lease rates and are jointly motivated to make this endeavor successful. This represents a true partnering between Summa, the physicians and Hplex Solutions.
The Summa Cooper Cancer Center is located in Akron, Ohio and was designed to provide comprehensive cancer services to the surrounding community. The Center is 74,000 square feet.
