BMO Harris Healthcare Real Estate Finance acts as Sole Lender of $7.3 Million Facility
BMO Harris Bank’s Healthcare Real Estate Finance group announced that it closed a $7.3MM senior secured term loan for the acquisition of a 41,205 SF single tenant medical office building and ambulatory surgery center in Indianapolis, IN. The owners will be a JV between Caddis Partners, LLC (“Caddis”) and a client of Invesco Real Estate, a global real estate investment manager. The single-tenant, Indiana Hand to Shoulder will continue to occupy the building and Caddis will manage the property post-acquisition. The subject property was a build-to-suit facility for the tenant when built in 1983/1987 and serves as its headquarters and is located at the entrance to the main campus of St. Vincent/Ascension Hospital. In addition to the subject location, the tenant has grown to 10 additional locations throughout Indiana.
Caddis® is a national real estate development, management and investment firm focused exclusively on the healthcare sector. Caddis owns and/or manages nearly 5 million square feet, for over 70 medical assets, valued in excess of $1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 5th largest development company in the United States. For more information about Caddis, please visit www.caddis.com.
Invesco Real Estate is a global leader in the real estate investment management business with $68.9 billion in real estate assets under management, 508 employees and 21 regional offices across the U.S., Europe and Asia (as of 03/31/19). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
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