NEW YORK CITY — Eastern Union has arranged a $33.4 million acquisition loan for a 144,263-square-foot medical office building in Brooklyn. The four-story building at 6201 15th Ave. is located in the Borough Park neighborhood and was most recently renovated in 2010. Alex Jaffa and Ben Halpern of Eastern Union arranged the loan, which was structured with an 80 percent loan-to-value ratio, an interest rate of 5.55 percent over a five-year term based on a 25-year amortization schedule. The direct lender was Webster Bank. The borrower was not disclosed.
SPRING, TEXAS — New Promise Neuropathy will open a 3,000-square-foot wellness clinic in Spring, a northern suburb of Houston. The space is situated within Spring Oaks Plaza, a newly developed, 10,188-square-foot retail strip center located at 4544 Spring Stuebner Road. Diana Gaines and Jackson Cain of SVN | J. Beard Real Estate represented the landlord, an entity doing business as Spring Oaks Investments LLC, in the lease negotiations. D.J. Hale of Oxford Partners represented the tenant.
INDIAN WELLS, CALIF. — Progressive Real Estate Partners has brokered the sale of Indian Wells Medical & Professional Center, located at 74785 Highway 111 in Indian Wells. Miami-based Kresher Capital sold the property to Orange County, Calif.-based Circle Vision for $10.5 million. Built in 1996, the two-story Indian Wells Medical & Professional Center offers 40,750 square feet of commercial space, as well as courtyards, outdoor seating and covered parking. Current tenants include Charles Schwab, RadNet, Mercer Financial and SBEMP Law. Greg Bedell and Heather Sharp of Progressive Real Estate Partners represented the seller, while the buyer was self-represented in the deal.
ENGLEWOOD, COLO. — Värde Partners, a global investment firm specializing in credit and credit-related assets, has closed a $48 million loan to refinance Synergy Medical Center in Englewood. Newmark’s Ramsey Daya, Chris Moritz and Grant Gooding arranged the three-year, floating-rate loan for the sponsor. Constructed in 2021 on the Swedish Medical Center campus, the 104,000-square-foot medical office building is 80 percent leased to a variety of medical tenants. HCA HealthOne, as the largest tenant, operates an ambulatory surgery center as well as specialized clinics for neurosurgery, orthopedics and physical therapy.
WASHINGTON, D.C. — The volume for commercial and multifamily mortgage loan originations closed in the third quarter of 2025 was 36 percent higher compared to a year earlier, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations report. The third-quarter production also represents an 18 percent increase from the previous quarter. The MBA reports that loan originations have now risen for five consecutive quarters on both a quarterly and annual basis. Among property types, there was an 181 percent year-over-year increase in the dollar volume of loans for office properties, 100 percent increase for retail properties, 66 percent increase for hotels, 27 percent increase for multifamily properties and a 5 percent increase for industrial properties. Originations for healthcare properties decreased 43 percent compared to the third quarter of 2024. “While some sectors, such as healthcare and industrial, saw slower activity, overall volumes reflected improving sentiment as property values stabilized and loans reaching maturity were refinanced,” says Reggie Booker, MBA’s associate vice president of commercial/multifamily research. Among capital sources, there was a 52 percent year-over-year increase in loans by depositories lenders (i.e. banks), 40 percent increase in loans by government sponsored enterprises (Fannie Mae and Freddie Mac) …
WOBURN, MASS. — CBRE has brokered the sale of a 76,701-square-foot medical office building in Woburn, located north of Boston. Winchester Hospital anchors the outpatient building, which is known as 200 Unicorn Park, and Excel Orthopedic Specialists occupies the remaining space. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin, Corra John, Scott Dragos and Josh Kulak of CBRE represented the undisclosed seller in the transaction. The buyer was Boston-based Sendero Capital.
SANTA BARBARA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a three-story medical office building in downtown Santa Barbara. Greenbridge Investment Partners, led by Sean Hashem and Fareed Kanani, doing business as Greenbridge Medical Center LLC, sold the asset to a California-based corporation for $21.3 million, or $970 per square foot. University of California Los Angeles (UCLA) occupies the 21,970-square-foot property on a triple-net lease. Built in 2007 and renovated in 2023, the building is home to UCLA Health Santa Barbara’s oncology, primary and specialty care services, including internal medicine, family medicine and rheumatology. Building amenities include ground-level parking, patios throughout and a rooftop terrace. Mark DeGiorgio, Tom Lagos and Andrew Defends of IPA represented the seller in the deal.
LARKSPUR, CALIF. — Wareham Development Corp. has completed the sale of Bon Air Medical Center, a medical outpatient building in Larkspur, to Anchor Health Properties for $24 million. Situated on 3.6 acres at 18 Bon Air Road, Bon Air Medical Center features 27,297 square feet of multi-speciality medical outpatient space. The two single-story buildings are fully leased to MarinHealth and offer a variety of services, including cardiovascular medicine, orthopedics, imaging and spinal care. Evan Kovac, Andrew Milne, John Chun, Matt DiCesare, Anthony Sardo, Erik Hanson and Rob Hielscher of JLL represented the seller in the deal.
DEARBORN HEIGHTS, MICH. — Vida Clinical Studies has signed a 3,024-square-foot medical office lease at 8560 N. Silvery Lane in Dearborn Heights. James Mitchell of Dominion Real Estate Advisors LLC represented the tenant and the undisclosed landlord in the three-year lease. The tenant conducts clinical research and has over a decade of experience in the Detroit metro area.
GRAND RAPIDS, MICH. — Freedom Functional Medicine has leased a medical suite at 1787 Grand Ridge Court NE in Grand Rapids. The 7,247-square-foot suite includes 14 exam rooms, seven private offices, an X-ray room, blood lab, nurses’ station, breakroom and a reception area. Josh Wiser of Keller Williams guided the property search, while Hillary Taatjes Woznick and Doug Taatjes of NAI Wisinski of West Michigan represented the landlord.
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