September 13, 2017 Comments (0) Views: 384 California News, San Diego

Berkadia Secures Financing for Scripps Ranch Healthcare Property

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Berkadia secured $29 million in permanent refinancing of San Diego’s Pinnacle Medical Office, a primary care office in Scripps Ranch. The 10-year fixed rate loan is interest-only for the full term, and features a 4.3% fixed interest rate.

Located at 10670-10672 Wexford St., the facility provides services including primary care, wellness exams, treadmill stress testing, annual physicals, DOT examinations, sports and camp physicals, full laboratory testing, vaccinations, and pre-operative clearance.

Berkadia’s Jackson Cloak represented the borrower, LP Scripps Lot 1 LLC, through Wells Fargo. Cloak says, “This property was ripe for refinancing due to long term tenants, continued high occupancy, high barriers to entry and the borrower’s long term ownership goals.”

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