ART Health
The Challenge
Advanced Radiotherapy Technologies ("ART Health") specializes in the development and management of state-of-the-art radiotherapy cancer centers in collaboration with distinguished clinical partners. Their superior radiation technologies are currently not available at most major cancer centers due to their high cost. ART Health engaged Dolfin to provide equipment and tenant improvement ("TI") financing for their new radiotherapy center in Newport Beach, CA. The new facility required financing for 14,137 square feet of ground floor space to include the installation of both advanced radiology technologies and radiation shielding vaults.
What We Did
Our 6-page, credit-based Dolfin TI Lease provided 100% financing to the Developer and was competitively priced based on the Tenant's AA credit rating. The Dolfin Lease is a private, bilateral obligation — the transaction is not itself a rated instrument. The structure provided $30,000,000 to the ART Health Cancer Center.
- 100% financing priced on the tenant's AA credit rating — the transaction itself is a private, unrated bilateral obligation.
- Single lease covering both TI and specialized medical equipment.
- Fixed-rate, fully amortizing structure matched to the facility's useful life.
The Outcome
Opening in early 2025, the center provides the highest standard of radiotherapy care to thousands of patients annually at its Newport Beach location. The long-term, cost-effective tenant improvement and equipment financing provided by Dolfin enables the center to achieve positive cashflow within months of opening.
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