George Smith Gets $18.9M for Wisc. MOB

MADISON, WI—Commercial real estate investment banking firm George Smith Partners has just arranged $18.9 million in financing on behalf of its client, Pheasant West LLC, for the refinance of its 200,000 square-foot office building at 7974 UW Health Court in the city of Middleton, WI, a suburb of Madison. GSP’s Vice President Steve Stein says lenders found the property appealing because it is 100% leased to the University of Wisconsin Medical Foundation offices.

“This was a highly attractive refinance loan opportunity for lenders, based on the property’s tenant, which is long-term, stable and has strong financial backing through its affiliation with the University of Wisconsin. A long-standing single-tenant provides steady income for a property owner through the life of a loan. As a result, lenders feel more secure with regard to loan repayment.”