Rent is one line. The 2027 real estate budget also carries escalations, CAM true-ups, retention releases, equipment deposits, and a build that spends before it reimburses. Here is how I classify every dollar and lay it out by the month cash actually clears.

The LOI says $340,000 in TI. The lease pages behind it decide whether you collect it. How the money moves — draw packages, deductions, amortized TI — and the five clauses to negotiate before you sign.

A lease is a financial engine, not just a legal document. Learn how to pull the three critical levers of Deal Engineering: The Hardware Handshake, Infrastructure TIA, and the Contingency Valve to ensure your clinical engine has the room to run.