JLL Arranges $65.5M Acquisition Loan for Bon Secours Mercy Health Headquarters Building in Cincinnati
CINCINNATI — JLL Capital Markets has arranged a $65.5 million loan for the acquisition of the Bon Secours Mercy Health headquarters building located at 1701 Mercy Place in Cincinnati’s Bond Hill neighborhood. The Class A office building spans 368,500 square feet. Completed in 2016, the property is fully leased to Mercy Health with 14 years remaining on the lease term. The facility serves as the administrative and executive headquarters for Mercy Health, which is Ohio’s largest healthcare delivery system and fourth-largest employer. Amenities at the building include a fitness center, outdoor dining area, food market, walking trail, ergonomic workstations and treadmill desks. The five-story property also features parking for more than 1,400 vehicles.
Keith Largay and Lucas Borges of JLL represented the borrowers, 90 North Real Estate Partners and Kuwait-based Rasameel Investment Co. PNC Bank provided the five-year loan, which features a fixed interest rate below 2.5 percent.