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Byline Bank Provides $16.5M Loan To RX Health & Science Trust For Office Conversion In Gilbert AZ

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FINANCED
$16,500,000

Arizona

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Office88,472 SF
Financed 10/29/2025
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Property Image
FINANCED

Byline Bank Provides $16.5M Loan To RX Health & Science Trust For Office Conversion In Gilbert AZ

3345 South Val Vista Drive

See Similar Deals
Office88,472 SF
Financed 10/29/2025
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:Office
Price Per Square Foot:$186
Total Square Footage:88,472 SF
Transaction Type:Loan

The asset involved in this transaction is a medical office property located at 3345 South Val Vista Drive in Gilbert, AZ. The property spans 88,472 square feet and has been financed with a loan amount of $16,500,000. It is being developed by RX Health & Science Trust, highlighting its intended purpose in the healthcare sector.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $16,500,000
  • Asset Address: 3345 South Val Vista Drive
  • Market: Gilbert, AZ
  • Lender: Byline Bank’s Commercial Real Estate Group
  • Landlord: RX Health & Science Trust

The deal involves Byline Bank’s Commercial Real Estate Group providing the mortgage to RX Health & Science Trust to convert the existing structure into a medical office space. The upgrade aims to attract healthcare tenants, leveraging the building’s proximity to Dignity Health Mercy Gilbert Medical Center to enhance its appeal.

Players

Byline Bank
Byline Bank
LENDER

Details

FINANCED
IMAGE: 10/29/2025 ADDRESS: 3345 South Val Vista Drive MARKET: Gilbert, AZ ASSET TYPE: Office ~ SF: 88,472 LENDER: Byline Bank’s Commercial Real Estate Group LANDLORD: RX Health & Science Trust LOAN AMOUNT: $16,500,000 NOTE: Byline Bank’s Commercial Real Estate Group provided a $16.5M mortgage to RX Health & Science Trust to convert 3345 South Val Vista Drive in Gilbert, AZ, into a medical office property. The 88,472-square-foot building will be upgraded to attract healthcare tenants, building on existing medical use and leveraging its proximity to Dignity Health Mercy Gilbert Medical Center.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,500,000.00

Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00