Jones Lang LaSalle Inc.
09/11/2024 | Press release | Distributed by Public on 09/12/2024 10:48
$38.5M refinancing arranged for national outpatient medical portfolio
BOSTON, Sept. 11, 2024 - JLL Capital Markets announced today that it has arranged a $38.5 million refinancing for a six-property national medical portfolio totalling 160,060 square feet across five states.
Working on behalf of Provider Real Estate Partners ("PREP"), JLL secured the three-year loan through Miami-based BankUnited, who is acutely attuned to the healthcare sector. The new lending relationship for PREP enhances their portfolio growth in outpatient medical buildings nationwide.
The portfolio is 100% occupied to a diverse mix of market leading health systems and independent physician groups, across the Southeast, Midwest and Southwest. All of the assets were built between 2007 and 2020 are located in Michigan, North Carolina, South Carolina, New Mexico and Georgia (two properties).
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Anthony Sardo, Associate Tara Hagerty and Analyst Matt Sykes.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Provider Real Estate Partners
Provider Real Estate Partners, LLC is a Cleveland, Ohio-based commercial real estate fund management and advisory firm. Founded in 2020, PREP focuses on acquisition and development strategies across the healthcare, industrial, and retail sectors, all of which benefit from robust fundamental tailwinds. Its team is led by seasoned executives with decades of experience executing investments in commercial real estate. PREP has acquired or advised on acquisitions of over $100MM of assets throughout the United States.
BankUnited, Inc. (NYSE: BKU), with total assets of $35.4 billion at June 30, 2024 is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida, that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, New York metropolitan area and Dallas, Texas, and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms. For additional information, call (877) 779-2265 or visit BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited.