Mortgage banking startup Gantry has secured construction funding for a new medical complex that will look after veterans and create 400 jobs.

The corporation will invest $180 million in the project to build a 250,000-square-foot medical office complex.

The US Department of Veterans Affairs’ new healthcare center in Wake County is set to open in the coming months.

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Gantry Principal George Mitsanas said: “The VA facilities program is part of a strategic effort to expand access to and enhance health care services for our nation’s veterans.”

The facility is entirely leased to the VA on a long-term deal.

Construction of the facility, which was first announced two years ago, is slated to begin in early 2023.

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Every year, the facility will deliver general care and mental health services to almost 25,000 veterans.

Depending on demand and need, the outpatient clinic may offer limited specialty treatments like cardiology and gastroenterology.

The center was launched as a result of a collaboration with Atriax, a veteran-owned and run planning, design, and construction firm located in North Carolina.

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Gantry will serve as the loan’s servicer for the duration of the 22-year term.

This is the sixth financing in a row secured by the mortgage banking business this year on behalf of sponsors specializing in the development of VA medical centers.

The business has completed more than $1.1 billion in project financings for VA medical facilities during the last three years.

Source: The Business Journals

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