Boulevard Investment Group has obtained $ 48 million from refinancing for Good Samaritan Medical Tower, a medical outpatient clinic of 144,998 square meters in Los Angeles. Voya Financial provided the loan.
Earlier financing included a CMBS loan of $ 42.7 million from Wilmington Trust and from Deutsche Bank Trust in September 2015, according to Yardi Research Data. That memorandum has grown up this month.
Loan originations in the medical office sector rose by 77 percent compared to the same period last year, according to an MBA report of the second quarter. On a quarterly basis, the original rose by 90 percent.
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Located on 1127 Wilshire Blvd., is the 15 -storey medical office building close to Highway 110 and 1 miles from the center of Los Angeles. Los Angeles International Airport is 17 miles away. Other medical care providers in the area are Children Dental World Olympic and La Downtown Medical Center, as well as the adjacent PIH Health Good Samaritan Hospital.
Boulevard Investment Group took over the real estate in May 1999 from Lawrence Realty Group, according to the same source. The company paid $ 7.3 million for the asset.
The facility completed in 1964 and went through cosmetic renovations in 2000 and 2014. The building has floor plates ranging from 6,000 to 10,000 square base, 345 parking spaces and 1500 square base of retail space. Tenants include Quest Diagnostics, Westwood Dental Smile and California Skin Institute.
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