DALY CITY, CALIF. — A joint venture between Pinnacle Capital Management Services and Harrison Street Real Estate Capital has purchased Physicians Medical Center. The medical office building is located at 901 Campus Drive in Daly City, south of San Francisco. Swift Real Estate Partners sold the property for $30 million.
Situated on 2.4 acres, the purpose-built medical office building features 70,705 square feet of space. At the time of sale, the three-story property was 92 percent leased to a variety of tenants, including Palo Alto Medical Foundation, Sutter Health, Campus Surgery Center and AmSurg/Envision Healthcare.
Evan Kovac, Andrew Milne and David Dokko of HFF represented the seller and procured the buyer in the deal.
Additionally, HFF’s Zack Holderman, John Chun and Trent Jemmett arranged a $25 million, non-recourse, floating-rate acquisition loan for the buyer.