Jul
02
Easterly Government Closes $128M Medical Financing
ByThe 10-year non-amortizing loan is for the Department of Veterans Affairs Ambulatory Care Facility, located in Loma Linda, Calif. The asset was recently acquired by Easterly Government Properties.
Easterly Government Properties Inc. closed on a $127.5 million mortgage loan for the Department of Veterans Affairs Ambulatory Care Facility in Loma Linda, Calif. Easterly acquired the 327,614-square-foot asset in June 2017. The 10-year non-amortizing loan carries a fixed interest rate of 3.59 percent per year.
STATE-OF-THE-ART MEDICAL FACILITY
Located on a 37-acre site at 26001 Redlands Blvd., the asset traded for $212.5 million (less than the expected sale price) and is second-largest Veterans Affairs outpatient facility in the country. JLL’s Capital Markets Government Solutions team led by Executive Vice President Brian Saal and Senior Managing Director Bill Prutting closed the transaction…
