Press Releases
Marcus & Millichap Capital Corporation provides $24M loan to Florida medical facility buyer
April 24, 2024
JACKSONVILLE, Fla. April 23, 2024 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $23,625,000 in financing for the purchase of Lakeview Health, a single-tenant triple-net leased medical facility in Jacksonville, Florida.
Robert Bhat, senior managing director in MMCC’s Miami office secured the financing.
“The property is a nationally recognized medical rehab and eating disorder facility strategically located in Jacksonville, one of the fastest-growing medical ecosystems in the United States,” said Bhat. “Given the long-term lease and strong cash flow, we were able to source a conventional bank to provide competitive terms, including 75% loan-to-value amortized over 30 years, a 0.13% lender origination fee and no required bank deposits.”
The property consists of two buildings constructed between 1972 and 1984, both of which were renovated in 2016. The facilities are 15 minutes from Downtown Jacksonville via Florida State Highway115.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion. To learn more, please visit: marcusmillichap.com/financing.
Robert Bhat, senior managing director in MMCC’s Miami office secured the financing.
“The property is a nationally recognized medical rehab and eating disorder facility strategically located in Jacksonville, one of the fastest-growing medical ecosystems in the United States,” said Bhat. “Given the long-term lease and strong cash flow, we were able to source a conventional bank to provide competitive terms, including 75% loan-to-value amortized over 30 years, a 0.13% lender origination fee and no required bank deposits.”
The property consists of two buildings constructed between 1972 and 1984, both of which were renovated in 2016. The facilities are 15 minutes from Downtown Jacksonville via Florida State Highway115.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion. To learn more, please visit: marcusmillichap.com/financing.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
