MIAMI, FL - United Trust Fund, (“UTF”) a national leader in sale-leasebacks and build-to-suit projects announced the purchase and funding of a 196,000 square foot to-be-built world class orthopedic hospital in Springfi eld,
Missouri. In a simultaneous transaction, UTF also purchased a 25 acre site in Edmond, Oklahoma and provided the funding for a 225,000 square foot to-be-built medical office building. The Development Agreement between Sisters of Mercy and UTF addressed each of the Tenant’s concerns:
• A project budget with fl exibility for change;
• Funding of the construction at a fi xed cost;
• A Lease providing Sisters with total control of the real property and fi xed pre-determined rents at the
inception of the construction;
• Certainty of closure; and
• Operating Lease Treatment under FASB, Accounting for Leases.
Sidney Domb, CEO and President of UTF said “For 40 years our objective has always been to exceed the demands and expectations of our clients. Mission accomplished.”
Jim Nolan, EVP and Chief Financial Offi cer also commented, “It was a terrific opportunity and challenge. We closed on schedule and were pleased to be able to save Sisters millions of dollars.”
Founded in 1972, United Trust Fund is a national leader of corporate sale-leasebacks and build-to-suit projects. UTF purchases all types of real estate from public and private companies throughout the United States.
Call or email UTF’s acquisition department at www.utf.com to learn how we can help your firm.
701 Brickell Avenue, Suite 1300
Miami, FL 33131