Byline Bank Provides $16.5M Loan To RX Health & Science Trust For Office Conversion In Gilbert AZ
3345 South Val Vista Drive
$16,500,000
$186/SF
Building Size
88,472 SF
Asset Type
Office
Closing
Oct 29, 2025
About this deal
AI
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.
On the Map
$16,500,000
$186/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93