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Montecito Medical Real Estate Secures $65.9 Million Refinance Loan From CapitalOne In Murfreesboro TN

Property Image
FINANCED
$65,900,000

Tennessee

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Medical Office221,000 SF
Financed 08/27/2025
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FINANCED

Montecito Medical Real Estate Secures $65.9 Million Refinance Loan From CapitalOne In Murfreesboro TN

1272 Garrison Drive

See Similar Deals
Medical Office221,000 SF
Financed 08/27/2025
the dealplayerscompscontact
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Summary

TENNESSEE
Asset Type:Medical Office
Price Per Square Foot:$298
Total Square Footage:221,000 SF
Transaction Type:Loan

The asset involved in this transaction is a medical office located at 1272 Garrison Drive in Murfreesboro, TN, encompassing a total square footage of 221,000. The loan for this property was structured as a refinance, with a total loan amount of $65,900,000.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $65,900,000
  • Lender: CapitalOne
  • Landlord: Montecito Medical Real Estate
  • Previous Loan Amount: $45,500,000
  • Date of Loan: 08/27/2025
  • Market: Murfreesboro, TN

The transaction was facilitated by Montecito Medical Real Estate, which secured the refinance loan from Capital One. This refinancing replaces a previous loan taken in 2019, reflecting a significant shift in the medical office loan market, highlighted by an 88% year-over-year increase in loan originations during the second quarter.

Players

Capital One
Capital One
LENDER
Montecito Medical Real Estate
Montecito Medical Real Estate
LANDLORD

Details

FINANCED
IMAGE: 08/27/2025 ADDRESS: 1272 Garrison Drive MARKET: Murfreesboro, TN ASSET TYPE: Medical Office ~ SF: 221,000 LENDER: CapitalOne LANDLORD: Montecito Medical Real Estate LOAN AMOUNT: $65,900,000 LOAN TYPE: Refinance NOTE: Montecito Medical Real Estate secured a $65.9 million refinance loan from Capital One for the 221,000-square-foot Murfreesboro Medical Clinic in Murfreesboro, Tenn. The deal replaces a $45.5 million loan from 2019 and comes amid a sharp rise in medical office loan originations, which jumped 88% year-over-year in Q2.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$65,900,000.00

Monthly NOI$439,333.33
Monthly Debt Service$416,532.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00