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CIT Provides $51M Loan To Seavest Healthcare For Refinancing Medical Office

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FINANCED
$50,800,000

Oregon

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118,000 SF
Financed 09/14/2022
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Property Image
FINANCED

CIT Provides $51M Loan To Seavest Healthcare For Refinancing Medical Office

7305 Southeast Circuit Drive, Hillsboro, Oregon 97078, United States

See Similar Deals
118,000 SF
Financed 09/14/2022
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Summary

OREGON
Price Per Square Foot:$430
Total Square Footage:118,000 SF
Transaction Type:Loan

A medical office property located at 7305 Circuit Dr in Hillsboro, OR, with a total square footage of 118,000, has recently undergone a refinancing transaction. The loan was provided by CIT and facilitated by William Douglass. The loan amount for the refinancing was $51,000,000. The landlord of the property is Seavest Healthcare Properties, LLC.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $51,000,000
  • Address: 7305 Circuit Dr, Hillsboro, OR
  • Lender: CIT - William Douglass
  • Landlord: Seavest Healthcare Properties, LLC

The refinancing deal for the medical office was successfully executed, providing the necessary funds for the property. This transaction highlights the involvement of key individuals and companies, including CIT as the lender and William Douglass as the facilitating representative. Seavest Healthcare Properties, LLC acts as the landlord for the medical office property.

Players

LENDER

Details

FINANCED
IMAGE: William Douglass DATE: 09/19/2022 ADDRESS: 7305 Circuit Dr MARKET: Hillsboro, OR ASSET TYPE: Medical Office ~ SF: 118,000 LENDER: CIT - William Douglass LANDLORD: Seavest Healthcare Properties, LLC LOAN AMOUNT: $51,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,800,000.00

Monthly NOI$338,666.67
Monthly Debt Service$321,090.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00