Englewood Medical Center has successfully closed a $48 million refinancing deal, providing significant capital for the modern medical office building located on the Swedish Medical Center campus. The transaction, led by Värde Partners, aims to support the continued operations and growth of this state-of-the-art healthcare facility.
Key Takeaways
- A $48 million loan has been secured to refinance the Englewood Medical Center.
- The facility is a Class A medical office building constructed in 2021.
- It is currently 80% leased to various medical service providers.
- The loan was arranged by Newmark.
Property Overview
The Englewood Medical Center, a 104,000-square-foot Class A medical office building, stands as the newest structure on the Swedish Medical Center campus, having been completed in 2021. Its strategic location and modern infrastructure make it a prime asset in the region’s healthcare landscape. The building boasts an 80% occupancy rate, with a diverse range of tenants offering essential medical services.
Major Tenants and Services
Among the key tenants is HCA HealthOne, which operates a significant portion of the facility. HCA HealthOne utilizes the space for an ambulatory surgery center and specialized clinics focusing on neurosurgery, orthopedics, and physical therapy. This concentration of services highlights the center’s role in providing comprehensive patient care.
Financing Details
The refinancing was facilitated by a three-year, floating-rate loan. The deal was expertly arranged by Ramsey Daya, Chris Moritz, and Grant Gooding of Newmark, who played a crucial role in connecting the borrower with Värde Partners. Värde Partners, known for its extensive experience in healthcare real estate investments, provided the necessary capital for this significant transaction.
Värde Partners’ Healthcare Investment Strategy
Värde Partners has demonstrated a strong commitment to the healthcare sector. In 2024 alone, the firm acquired a substantial portfolio comprising 61 medical outpatient buildings valued at $700 million. Additionally, they established an operating company to manage the day-to-day operations of their healthcare real estate assets. As a real estate credit solutions originator, Värde focuses on delivering flexible capital and ensuring reliable execution for its borrowers, further solidifying its position as a key player in healthcare finance.