Montecito Medical Real Estate Secures $50M Refinancing for Medical Office Building Portfolio

Montecito Medical Real Estate, a leading medical office building (MOB) investor and operator, recently announced that it has secured a $50 million refinancing for its medical office building portfolio. The portfolio consists of seven properties located in four states, including Arizona, California, Nevada, and Texas.

The refinancing was provided by a national lender and was completed in less than 30 days. The loan was structured with a 10-year term and a 30-year amortization.

Montecito Medical’s Portfolio

Montecito Medical’s portfolio consists of seven medical office buildings located in four states. The portfolio is comprised of two properties in Arizona, two in California, two in Nevada, and one in Texas.

The properties are all leased to a variety of healthcare tenants, including hospitals, physician groups, and other healthcare providers. The portfolio is well-diversified, with tenants in a variety of specialties, including primary care, orthopedics, and cardiology.

Benefits of Refinancing

The refinancing of Montecito Medical’s portfolio will provide a number of benefits to the company. First, the refinancing will provide the company with additional liquidity, which can be used to fund future acquisitions and expansions.

Second, the refinancing will provide the company with a lower interest rate, which will reduce its overall debt service costs. Finally, the refinancing will provide the company with additional flexibility, as it will now have the ability to make changes to its portfolio without having to refinance the entire portfolio.

Conclusion

Montecito Medical Real Estate recently secured a $50 million refinancing for its medical office building portfolio. The refinancing was provided by a national lender and was completed in less than 30 days. The loan was structured with a 10-year term and a 30-year amortization. The refinancing will provide the company with additional liquidity, a lower interest rate, and additional flexibility.

In summary, Montecito Medical Real Estate has secured a $50 million refinancing for its medical office building portfolio. The refinancing will provide the company with additional liquidity, a lower interest rate, and additional flexibility. #MontecitoMedical #MedicalOfficeBuilding #RealEstate #Refinancing #MOB #Healthcare #BUSINESS