Medical Pavilion at White Oak in Silver Spring, Md. Picture courtesy of CommercialEdge
A three way partnership led by Rethink Healthcare Actual Property has obtained $50.3 million in refinancing for Medical Pavilion at White Oak, a 169,000-square-foot medical workplace constructing in Silver Spring, Md. First Residents Financial institution, by means of its Healthcare Finance division, supplied the financing.
Situated at 11886 Therapeutic Manner, the Class A medical workplace property is a part of the Adventist White Oak Medical Heart, a $400 million medical campus. The constructing presents direct hospital foyer entry by means of the primary ground, an outpatient pharmacy, two sufferers drop-off and pick-up areas, a espresso store, a convention room, a mail room, medical provides storage amenities and a parking storage with 1,025 parking spots.
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Adventist HealthCare occupies the seven-story property. Medical companies embrace cardiovascular, radiology, oncology and rehabilitation companies, in addition to two linear accelerator vaults and employees growth companies.
Medical Pavilion at White Oak is located shut Interstate 95 and to a number of retail and eating choices, comparable to Kohl’s or Goal. The location is 13 miles from downtown Washington, D.C., 25 miles from Baltimore/Washington Worldwide Airport, 28 miles from Arlington, Va., and inside 30 miles of Alexandria, Va.
Earlier this 12 months, First Residents Financial institution supplied one other $50.3 million in financing for a medical workplace portfolio. Montecito Medical secured the mortgage to recapitalize its 200,000-square-foot portfolio, composed of seven off-campus medical workplace properties positioned in Florida, Illinois and Pennsylvania.
