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| Rendering of Planned Medical Plaza, Riverside, CA |
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| Zach Koucos |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged an $8.5 million
construction-to-permanent financing for a to-be-built, 27,000-square-foot medical
office building in Riverside, California.
HFF worked on behalf of
the borrower, Pacific Medical Buildings (PMB), to secure the 12-year,
fixed-rate loan through a correspondent life insurance company.
Due for completion in
January 2019, the entire facility will be leased to RadNet Management, Inc.
(NASDAQ: RDNT), and will operate as a cancer center with linear accelerator
vault, imaging center and clinical programs.
The property is situated
at 4536 Olivewood Avenue, adjacent to the Riverside Freeway and just south of
its intersection with the Pomona Freeway in the Inland Empire.
HFF’s debt placement team
representing the borrower was led by director Zach Koucos and associate Olga Walsh. Jake
Rohe, Ben Ryan, and Ben Rosenfeld led the transaction for PMB.
“We’re seeing an
increasing number of capital providers taking an interest in the healthcare
asset class, particularly with great sponsors such as PMB,” Koucos said.
“Radnet is a leader in value-based
healthcare delivery and we are proud to be their healthcare real estate
development partner helping them deliver low-cost, high-quality healthcare
services to the greater Riverside community,” said Ben Rosenfeld of PMB.
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| Olga Walsh |
PMB specializes in developing, leasing, and
managing medical office buildings, ambulatory care centers, clinics, academic
medical facilities, and parking structures.
For more than 40 years, PMB’s executives have led the industry in the development and management of medical care buildings, with 90 healthcare projects constructed to date throughout the Western United States.
For more than 40 years, PMB’s executives have led the industry in the development and management of medical care buildings, with 90 healthcare projects constructed to date throughout the Western United States.
The firm currently owns
and manages 56 facilities totaling approximately more than 3.6 million square
feet with more than 8,000 structured parking stalls, and has 8 projects under
development totaling over 650,000 square feet.
The San Diego-based firm also has offices in
Austin, Chicago, Las Vegas, Los Angeles, Nashville, Phoenix, Portland, and
Vancouver.
For more information, please visit PMB’s
website at www.pacificmedicalbuildings.com
For a complete copy of the company’s news release,
please contact:
Kristen Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell
617.543.4873 | www.hfflp.com
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