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December 10, 2017
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SAN DIEGO NEWS
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San Diego Area Medical Office Property Refinanced with New $29 Mil Loan

9/12/17

Pinnacle Medical Office, a primary care office in San Diego’s Scripps Ranch area, was recently refinanced with a $29 mil permanent loan. Located at 10670-10672 Wexford St, Pinnacle Medical Office provides services including primary care, wellness exams, treadmill stress testing, annual physicals, DOT examinations, sports and camp physicals, full laboratory testing, vaccinations, and pre-operative clearance.

Berkadia’s Jackson Cloak arranged the financing on behalf of the borrower, LP Scripps Lot 1 LLC, through Wells Fargo. The 10-year fixed rate loan is interest-only for the full term and features a 4.3% fixed interest rate.

“This property was ripe for refinancing due to long term tenants, continued high occupancy, high barriers to entry and the borrower’s long term ownership goals,” noted Clark.




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