LOS ANGELES—An unnamed borrower has secured $29.7 million to refinance three medical office properties in Los Angeles, San Diego and Pampa, TX. The funds will be used to perform improvements on the properties. With quality sponsorship for the loans, there were no challenges in completing these transactions.

According to the CBRE debt and structure finance team that helped to secure these funds—including Bruce Francis, Dana Summers, Bob Ybarra and Shaun Moothart—these loans illustrate a trend of “hospital groups are buying on-campus medical office buildings in order to attract and keep quality medical professionals.”

The three medical office properties include Dallas and Pampa Medial Office, a five-building, 232,391-square-foot multi-tenant property. Located at 3023 Perryton Parkway, the property is directly across from the Dallas and Pampa Regional Medical Centers. The borrower secured an $8 million, 9-year loan with a 4.7% interest rate.

The second property is the Alvarado Medical Office, a three-story 107,330-square-foot property with two buildings. The property is located directly across from the Alvarado Hospital at 5555 Reservoir Drive and 6699 Alvarado Drive in San Diego. The borrower secured a $10.7 million 15-year loan to refinance the property.

Centinela Medical Office was the final property in the portfolio to secure a loan. The two-building 99,474-square-foot property is located on the campus of the Centinela Hospital Medical Center. The borrower secured an $11 million 15-year loan with a 4.5% interest rate.