TMC Financing provides room for FlexCare Medical Staffing to grow
$3.1 million project expected to fuel new jobs in Sacramento
As seen in the Sacramento Business Journal
TMC Financing today announced the owners of FlexCare Medical Staffing (www.flexcarestaff.com) financed the purchase of 14,000 square feet of office space at 990 Reserve Drive, Units 250-290, in Roseville, California, with a 20-year, fixed-rate SBA 504 real estate loan. FlexCare was previously leasing half of the five-unit office condominium space and the purchase will allow expansion into the remaining units. The total project cost is $3.1 million.
“We were very committed to securing this space next to The Fountains,” FlexCare CEO Travis Mannon said. “We were willing to pay a premium because of the lifestyle it affords our employees, including options for great restaurants, shopping and entertainment. Having a world class space and great location helps with our recruiting and we feel Roseville is a great community to do business.”
With an average growth rate of 51 percent since 2006, FlexCare expects to double in size over the next couple years. “We really needed the space to grow,” Mannon said. “We’re twice what we were two years ago and on track to have revenue double again this year.”
Mannon said SBA 504 financing made sound financial sense for FlexCare, one of the nation’s leaders in travel nursing services. “Our cost per square foot dropped 20 percent,” he said. “And rates are so low, you’d be crazy not to buy. [TMC Financing SVP] Jim Azevedo is really good at what he does and has been a great resource. TMC is really connected in the real estate financing market and made the process a breeze.”
“We’re proud to have helped FlexCare stabilize their occupancy costs and lay a foundation for their continued growth,” Azevedo said. “They anticipate adding more than 100 full time jobs in Sacramento and they were recently named one of the Best Places to Work in Sacramento. That’s a win for the entire region.”