The property involved in this transaction is a 146,000-square-foot medical office building located at 3501 South Soncy Road in Amarillo, Texas. The asset sits on 11 acres and is currently 87% leased to various tenants including Spine & Sports Wellness Clinic and Lonestar Dental Center. The property was refinanced with a loan amount of $12,500,000 provided by East West Bank.

Summary of transation details:

• Property Type: Medical Office
• Transaction Amount: $12,500,000
• Address: 3501 South Soncy Road
• Market: Amarillo
• Asset Size: 146,000 SF
• Acres: 11
• Lender: East West Bank
• Landlord: Equity
• Brokers: Ben Appel, Conor Hilton, Jay Miele, John Nero, Michael Greeley, Ron Ott & Chad Prescher - Newmark
• Original Purchase Price: $13,400,000
• Original Financing: Franklin BSP Realty Trust
• Previous Purchase Date: November 2020

Newmark Healthcare Capital Markets facilitated the refinancing process for this medical office building, completing the transaction with East West Bank as the lender. The deal was supported by the efforts of multiple brokers from Newmark, highlighting the collaborative nature of the transaction.