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
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.
Players
Gilbert Office Market Snapshot
Boundary boundary · Office · Loan transactions
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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