October 2, 2017 Comments Off on $53M Financing for Allentown MOB Views: 623 National News, Northeast, Pennsylvania

$53M Financing for Allentown MOB

HFF secured $53 million in first mortgage financing for Integrated Health Campus, a two-building 301,000-square-foot medical office building in Allentown, PA. The HFF team worked on behalf of the borrower, Integrated Health Campus LP, to secure the 10-year, 4.34%, fixed-rate mortgage.

The property is situated on more than 21 acres at 240-250 Cetronia Dr. in the West End submarket. The campus is adjacent to Interstate 476, providing exposure to more than 42,000 vehicles per day and is within minutes of Interstate 78, U.S. Route 22 and PA Route 309.

Completed in 2007, the property is 83.7% leased to such tenants as Orthopaedic Associates of Allentown, St. Luke’s Hospital of Bethlehem, Lehigh Valley Health Network and Surgery Center of Allentown.

HFF’s debt placement team representing the borrower included Ryan Ade and Neil Campbell.

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