Key Takeaways
- • JLL Capital Markets arranged a $38.5 million refinancing for a six-property outpatient medical portfolio totaling 160,060 square feet across five states (Michigan, North Carolina, South Carolina, New Mexico, and Georgia).
- • BankUnited, a Miami-based lender with healthcare sector expertise, provided the three-year loan to Provider Real Estate Partners (PREP), establishing a new lending relationship to support the borrower's portfolio growth strategy.
- • The portfolio is 100% occupied by a diversified tenant base including market-leading health systems and independent physician groups across the Southeast, Midwest, and Southwest regions.
- • All six assets were constructed between 2007 and 2020, providing institutional-quality medical real estate with established operating histories.
- • JLL Capital Markets' Debt Advisory team, led by Senior Director Anthony Sardo with support from Associate Tara Hagerty and Analyst Matt Sykes, executed the transaction on behalf of PREP.
Summary
JLL Capital Markets completed a $38.5 million refinancing for Provider Real Estate Partners' national outpatient medical portfolio on September 11, 2024. The transaction financed a six-property portfolio spanning 160,060 square feet across five states, with assets distributed in Michigan, North Carolina, South Carolina, New Mexico, and Georgia.
BankUnited, a Miami-based financial institution with demonstrated expertise in the healthcare sector, originated the three-year loan. The refinancing represented a new lending relationship for PREP and positions the borrower to accelerate portfolio growth in the outpatient medical real estate market. The portfolio maintains 100% occupancy across a diversified tenant mix featuring both major regional health systems and independent physician groups, reducing concentration risk and providing stable cash flow characteristics.
All six properties in the portfolio were constructed between 2007 and 2020, offering institutional-quality assets with established operational track records. The geographic diversification across the Southeast, Midwest, and Southwest regions provides exposure to multiple healthcare markets and regional demand drivers. JLL's Capital Markets Debt Advisory team negotiated the transaction for the borrower, demonstrating the breadth of healthcare real estate financing expertise within JLL's 3,000-person global capital markets organization.
BankUnited, a Miami-based financial institution with demonstrated expertise in the healthcare sector, originated the three-year loan. The refinancing represented a new lending relationship for PREP and positions the borrower to accelerate portfolio growth in the outpatient medical real estate market. The portfolio maintains 100% occupancy across a diversified tenant mix featuring both major regional health systems and independent physician groups, reducing concentration risk and providing stable cash flow characteristics.
All six properties in the portfolio were constructed between 2007 and 2020, offering institutional-quality assets with established operational track records. The geographic diversification across the Southeast, Midwest, and Southwest regions provides exposure to multiple healthcare markets and regional demand drivers. JLL's Capital Markets Debt Advisory team negotiated the transaction for the borrower, demonstrating the breadth of healthcare real estate financing expertise within JLL's 3,000-person global capital markets organization.
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