Lenders Are Asking Better Questions Than Most Buyers Right Now

If you’re trying to finance a healthcare real estate deal right now, you better come prepared. Lenders are asking sharper questions than they were even six months ago—and frankly, sharper than some buyers and equity partners.

They’re not just looking at rent rolls and appraisals. They’re asking about payer mix. They want audited financials from the operator. They’re reviewing licensing risk, staff vacancies, referral patterns, and what happens if your revenue model shifts midstream.

And if the asset is behavioral health, memory care, or specialty outpatient—they’re digging deeper. These are need-based sectors, yes. But they’re also operationally complex. One bad state inspection or a 10 percent census drop can flip the coverage ratio.

Lenders want to see full-stack underwriting. That means more than just stabilized pro forma. It means showing you’ve thought through hiring timelines, TI funding, state-level regulations, and even downstream reimbursement exposure. They don’t want hope—they want a plan.

And here’s the real kicker: the groups getting financed right now aren’t necessarily the ones with the cheapest deal. They’re the ones that can explain their deal. Cleanly. Credibly. With enough detail to prove they know what they’re walking into.

📅 Need to prep for a lender conversation or review your deck?

Book a 15-minute call

📰 Want monthly market reads like this sent straight to you?

Join the newsletter