DALLAS, April 26, 2023 - JLL Capital Markets announces today that it has arranged $78 million through multiple financings for a 19-property healthcare portfolio totalling 319,424 square feet in nine states.
JLL worked on behalf of the borrower, Montecito Medical Real Estate to secure loans from multiple lenders across various geographic regions including the Southeast, Mid-Atlantic, Midwest, and North Texas.
The JLL Capital Markets Debt Advisory team was led by Managing Director John Chun, Director Anthony Sardo, Managing Director Tim Joyce, Managing Director Chris Hew and Senior Director Bobby Norwood.
The properties average an occupancy level of 95% with double-digit weighted average remaining lease term and are located in Texas, Kansas, Missouri, Alabama, Indiana, Maryland, Ohio, Pennsylvania and Virginia.
"Despite well documented headwinds in the capital market space, we were able to secure accretive financing terms from a variety of lending sources thanks to JLL's direct presence in each of these markets. The high-quality portfolio of medical office buildings assembled by Montecito allowed for a competitive environment that helped to drive optimal loan terms," said Chun.
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.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 26 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 13:40:38 UTC.
