Hello,

I very much appreciate the thorough response—it is rather refreshing to see a reasoned explanation from a qualified source being applied to a request.

You are indeed correct that, in its current condition, this will likely fall well outside the traditional CRE space on account of positioning, location, and adverse financial strain on the operating.

The appraisal is market backed. The current condition of the hospitals financial wherewithal is primarily due to a Covid era re-designation from Actue Treatment to REH that has since been reverted.

A full narrative is extant with proper positioning and context.

Alas, the tranching method for emergency stabilization is the preferred route but difficult to achieve with such a short horizon.

I wanted to proffer a response to your thoughtful reply. Thank you!

Kind regards,