Bethesda, Md. (March 6, 2017) – Capital One announced today that it provided a $9.3 million loan to refinance a 34,000-square-foot, off-campus medical office building in Lake Worth, Florida. This is the sixth transaction that Capital One has closed with Equity, Inc., a full-service real estate company whose services include development, construction, real estate brokerage and property management.
“Equity has an established reputation in the industry, and this transaction highlights our commitment to developing a long-term relationship with the team,” says Erik Tellefson, Managing Director for Capital One Healthcare. “We have worked closely with Equity before and were able to effectively and efficiently close the transaction.”
The Lake Worth Medical Center, which Equity constructed in 2008, is located five miles from the JFK Medical Center, a 412-bed hospital, and four miles from Select Medical, a rehabilitation center with 60 beds. The building is 100 percent leased. Tenants include a surgery center, a primary care clinic, a physical therapy provider, an orthopedic surgeon and an imaging center.
“Capital One structured the financing to align with our strategic goals for the asset,” said Steve Wathen, Equity’s CEO. “As a trusted advisor, Capital One’s deep understanding of the healthcare real estate landscape will help us continue as we grow our portfolio.”
Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $236.8 billion in deposits and $357.0 billion in total assets as of December 31, 2016. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
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