Capital One Closes $44.4 Million Loan for Medical Office Building Portfolio in North Carolina
Bethesda, Md. (December 11, 2017) – Capital One announced today that it provided a $44.4 million loan for the acquisition of a medical office building portfolio in North Carolina. The borrower is a joint venture of a client advised of Heitman, a global real estate investment management firm, and Montecito Medical, a privately-held real estate company.
“Our team has closed many deals with both with Heitman and Montecito. Our understanding of their strategy was a major factor in our ability to develop a financing solution that aligns with their strategic vision and to close the transaction efficiently,” said Erik Tellefson, Managing Director, Capital One Healthcare.
Montecito specializes in the acquisition and funding of medical office building development. The firm has acquired over $1.7 billion in medical office/medical properties since its inception. Founded in 1966, Heitman invests in private equity, private debt and public equity markets around the world and has $37.5 billion in assets under management.
“We return to Capital One because of their deep experience financing medical office buildings,” said Chip Conk, CEO and Principal of Montecito. “We also appreciate their faith in our vision for our company’s future.”
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 $239.1 billion in deposits and $361.4 billion in total assets as of September 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.
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