SAN DIEGO — Anchor Health Properties has obtained a $68 million loan to purchase a San Diego medical office building portfolio. The portfolio contains a total of 206,000 square feet in the La Jolla/UTC submarket.
The acquisition includes the two-building Chancellor Park Medical Campus, which is situated near the UC San Diego Jacobs Medical Center and Scripps Memorial Hospital La Jolla. The properties were built in 1988 as traditional office buildings before they were converted into medical uses.
The properties are 94 percent occupied. UC San Diego Health currently leases 44 percent of the buildings, which form the largest outpatient medical campus in UTC and one of the larger outpatient medical campuses in Southern California.
The funding will also support future tenant improvements and leasing commissions for the properties. Capital One provided the funds.