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7305 Southeast Circuit Driv...

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

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

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

$50,800,000

$430/SF

Building Size

118,000 SF

Asset Type

Closing

Sep 13, 2022

AI

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

First Citizens Bank
First Citizens BankLender

Hillsboro CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93