Grove Medical Arts Building, 12665 Garden Grove Boulevard
Garden Grove, CA
 |
| Mark Wintner |
LOS ANGELES, CA – HFF announced today that it has arranged
$11 million in financing for a two-building medical office portfolio totaling
120,253 square feet in Southern California.
HFF worked on behalf of the borrower, joint venture partners
Pacific Prime Properties and Hager Pacific, to secure the 20-year, fully
amortizing, fixed-rate financing through ING Investment Management. Loan proceeds were used to refinance existing
debt on the property and return capital to the borrower.
The first property, Grove Medical Arts Building, is
located at 12665 Garden Grove Boulevard in Garden Grove approximately six miles
south of Anaheim, California. The
seven-story, 74,367-square-foot building is adjacent to the 167-bed Garden
Grove Hospital Medical Center, and is 93.2 percent leased.
Los Alamitos Medical Professional Building, 10861 Cherry Street
Los Alamitos, CA
The second property, Los Alamitos Medical Professional
Building, is located at 10861 Cherry Street in Los Alamitos near Interstate
605 just south of Cypress, California.
The three-story, 45,886-square-foot office building is adjacent to the
167-bed Los Alamitos Medical Center.
Los Alamitos Medical Professional Building is100 percent leased.
The HFF team representing the borrower was led by managing
director Mark Wintner.
For a complete copy of the company’s news release, please
contact
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873
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