Bank United Provides $21.88M Loan For Medical Office On N Hiatus Rd, Pembroke Pines

The Pines Medical Professional Centre, a 91,956-square-foot medical office complex located at 400 – 700 N. Hiatus Road in Pembroke Pines, has secured $21,884,000 in refinancing. The property consists of four two-story office buildings built between 2000 and 2002 and is 97% occupied by various medical providers and services, including physicians, dentists, radiologists, and urologists.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $21,880,000.00
• Asset Type: Medical Office
• Borrower's Rep: Mackenzie Fry Lampman
• Lender: Bank United
• Market: Hollywood

Paul Ahmed and Mackenzie Lampman from CBRE Capital Markets assisted the borrower, a private investor, in arranging a seven-year fixed-rate loan from Bank United. Since the property purchase in late 2016, the borrower has attracted high-quality medical tenants, increasing the property's value. The borrower, a long-term client, utilized the refinancing to pay off the existing mortgage and fund further property enhancements.