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Medical Office Portfolios Get $240M

LOS ANGELES-Illustrating increased activity in the healthcare sector, G&L Realty secures two loans totaling $240 million for an eight-building medical office portfolio.

By Kelsi Maree Borland | Updated on November 05, 2013

LOS ANGELES-G&L Realty has secured two loans totaling $240 million from US Bank for two medical office portfolios in Southern California. Jones Lang LaSalle secured the loan on behalf of G&L Realty, which is known for ownership and management of healthcare-related properties.

G&L Realty secured a seven-year $176.5 million loan for a five-property portfolio in in Beverly Hills’ Golden Triangle district. The portfolio is located within close proximity to Cedars-Sinai Medical Center and UCLA Medical Center. “Tenants are drawn to this location because of the close proximity to [these] two main healthcare centers,” Reid McGlamery, EVP at JLL, tells GlobeSt.com “The draws there are clearly proximity to those facilities and the high quality of real estate that my client owns.”

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