CARSON CITY, NV
– City National Bank, Nevada’s Premier Private and Business Bank®, today announced that it has provided financing
of more than $4 million to CMG Building, LLC, for the construction of a new 20,000 square foot medical facility in Carson City. When completed in February or March of next year, the new facility will house Carson Medical Group’s OB/GYN and Pediatric offices.
Carson Medical Group (CMG) operates out of three facilities in the Carson City and Minden areas. When completed, CMG’s new state-of-the-art medical facility will be located adjacent to the Carson-Tahoe Regional Healthcare Complex and will replace its existing facility at 1470 Medical Parkway. CMG’s other two facilities are located at 1200 Mountain Street in Carson City and 925 Ironwood Drive, Suite 2111, in Minden.
What began early last year with the planning and architectural design of the proposed facility is now under construction as of last month. Shaheen Beauchamp Builders out of Carson City is the general contractor for this project. CMG, which has 27 practicing physicians and two nurse practitioners as well as 65 clinical and support staff, has been serving the Carson City and surrounding communities since 1974.
CMG’s other locations in Carson City and Minden houses its Family Practice, Pain Management, Ear Nose and Throat, and Cosmetic Laser Center. According to Dr. James Breeden, president of CMG, growth and demand for quality medical services has resulted in the need to build a new medical facility in the Carson City area.
“With land values and construction costs at historic lows, and with a growing demand for quality healthcare services in Carson City and the surrounding areas, this was the perfect time to build
our new innovative, state-of-the-art medical facility”, said Dr. Breeden. “City National Bank stepped up to the plate to help us turn this project into a reality, and we’re looking forward to expanding this new banking relationship into a long-term partnership.”
There were several banks competing on this deal, and City National was quick to provide an approval for a competitive product. Once CMG gave City National the green light to move forward with this deal, the loan was closed and funded in a short period of time.
“We already knew a lot about CMG and this loan request, which made it much easier for us to move quickly on the underwriting and approval process”, said Ursula Prebezac, senior vice president and senior relationship manager for City National’s Commercial Banking Services group in Carson City. “It’s been an absolute pleasure working with Dr. Breeden and his experienced team on this credit facility. CMG is a premier medical group that has some of the top medical professionals working for them, and City National is excited to enhance and expand this new relationship.”
City National has developed a number of special banking programs and product incentives for the healthcare industry, as well as other professional services industries. Due to the growing number of changes and new laws governing healthcare, City National is one of the first banks to train and certify a number of its branch and relationship managers, as well as its business development officers, as Certified Healthcare Bankers.
City National offers a full array of Commercial Loan Products such as Construction, Business Equipment and Machinery, Tenant Improvement, Working Captial, SBA 504 and 7A, Unsecured Small Business Loans, and more.
In addition to the 7A and 504 SBA Loans
, City National also offers the SBA Express and Patriot Express Loan Programs. These are all streamlined programs that can be used for Working Capital, Inventory, Business Acquisitions, Equipment, Real Estate and Debt Refinancing. City National is a Preferred Lender with the SBA, which means it can underwrite any SBA loan product without having to go to the SBA for approval.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $21.6 billion in total assets, and provides banking, investment and trust services through 80 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its investment affiliates manage or administer $60.1 billion in client investment assets, including nearly $38 billion under direct management.
City National has 12 branch offices in Nevada, including eight in Las Vegas and one each in North Las Vegas, Reno, Carson City and Minden. The bank also has a loan production office at Stateline inSouth Lake Tahoe.
For more information about City National, visit the company’s Website at cnb.com