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1/27/15
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CBRE’s Capital Markets’ Debt and Structured Finance Team recently closed three transactions in Southern California and Texas, totaling $29.7 mil. The team secured loans for: Alvarado Medical Office in San Diego, for $10.7 mil; Dallas and Pampa Medical Office Buildings in Farmers Branch and Pampa, TX for $8 mil; and Centinela Medical Center in Los Angeles, California for $11 mil.
CBRE’s Bruce Francis, Dana Summers, Bob Ybarra, and Shaun Moothart arranged the deals, and have worked on behalf of the borrower for the past several years, arranging financing for other of their medical office buildings as well. The following are the specifics of these latest several medical office deals:
Alvarado Medical Office
The property includes two adjacent medical buildings located at 5555 Reservoir Dr and 6699 Alvarado Dr, in San Diego. The $10.7 mil loan is a new 15-year fixed-rate, fully-amortizing loan that carries an all-in interest rate of 4.15%. The Alvarado Medical Offices are located directly across from the Alvarado Hospital. The building improvements consist of two Class B, three-story multi-tenant medical office buildings totaling 107.3k sf of space.
Dallas and Pampa Medial Office
The four Dallas Medical Office buildings are located at 1, 8, 9 and 10 Medical Pkwy in Farmers Branch, and the Pampa Medical Office building is located at 3023 Perryton Pkwy in Pampa. The $8 mil loan is for nine years, financed at an interest rate of 4.07%. The medical offices are located directly across from the Dallas and Pampa Regional Medical Centers. The building improvements consist of five multi-tenant medical office buildings totaling 232.4k sf.
Centinela Medical Office
The two Centinela Medical Office buildings are located at 501 and 575 Hardy St in Inglewood. The $11 mil loan is for 15 years fully-amortizing, with an interest rate of 4.50%. The Centinela Medical Office buildings are located on the campus of the Centinela Hospital Medical Center. The building improvements consist of two multi-tenant medical office buildings totaling 99.5k sf.
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