News Release: Capital One Closes $160.6 Million Loan for Medical Office Building Portfolio

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Capital One Closes $160.6 Million Loan for Medical Office Building Portfolio

Capital One served as joint lead arranger, sole bookrunner and administrative agent for a $160.6 million loan to an investment affiliate of MedProperties Holdings LLC that was recently used to acquire a portfolio of 17 medical office buildings and medical properties from Harrison Street Real Estate Capital. (Photos courtesy of MedProperties Holdings)

Bethesda, Md. (October 4, 2017)Capital One announced today that it served as joint lead arranger, sole bookrunner and administrative agent for a $160.6 million loan to an investment affiliate of MedProperties Holdings, LLC. The company used the funds to acquire a portfolio of 17 medical office buildings and medical properties from Harrison Street Real Estate Capital. The portfolio, totaling 620,000 square feet, includes assets in 10 states. The majority of these assets are located off of hospital campuses.

“We worked closely with MedProperties to structure a transaction that enables their business plan for these properties,” said Erik Tellefson, Managing Director, Capital One Healthcare. “In addition, we provided speed of execution, closing the transaction in just 45 days.”

MedProperties is a Dallas-based private equity fund that invests in the development and acquisition of healthcare real estate including medical office buildings, ambulatory surgery centers, inpatient rehabilitation facilities and surgical hospitals.

“Capital One’s healthcare team is well-known in the medical office real estate community and has the expertise to lend on a wide variety of real estate assets,” said Darryl Freling, MedProperties’ Managing Principal. “Their capacity to handle a portfolio of this size and complexity ensured that the transaction proceeded smoothly.”

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 $239.8 billion in deposits and $350.6 billion in total assets as of June 30, 2017. 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.

About MedProperties

MedProperties is a Dallas-based healthcare real estate private equity firm that invests on a direct and an indirect basis (through joint venture relationships) in the development of new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant, specialty healthcare facilities. MedProperties invests through its discretionary funds and through stand-alone investment vehicles. MedProperties is dedicated solely to investments in healthcare real estate. For further information on MedProperties, please visit www.medpropertieslp.com.

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