January 15, 2020
Capital One has placed a $20.7-million adjustable-rate loan with LaSalle Investment Management for the acquisition of a 90,000-square-foot medical office building located at 2767 E. Imperial Hwy. in Brea, CA.
The property is occupied by St. Jude Centers for Rehabilitation and Wellness, a wholly owned subsidiary of Providence St. Joseph Health, which renewed its lease for 15 years in 2018. St. Jude has invested over $11 million in improvements since it first leased the property in 2007.
“This was our first transaction with LaSalle,” said Erik Tellefson, managing director of Capital One Healthcare. “Their two-decade history of investing in medical office buildings facilitated our ability to develop a financing solution that aligned with their strategic plans for the asset.”
Capital One Healthcare is a leading provider of financial services across healthcare sectors, including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices.
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