3890 Johns Creek Parkway Suwanee, Forsyth County, GA 30024
Holliday Fenoglio Fowler, L.P. (“HFF”) has been retained by the Seller on an exclusive basis to arrange the sale of a $9,100,000 Allowed Secured Claim (the “Loan” or the “Asset”). The underlying collateral is a 52,090 SF medical office building located in the Johns Creek submarket in Suwanee, GA (31 miles northeast of Atlanta). The Property is 100% master leased to Northside Hospital, a prominent Atlanta-area healthcare system, which sublets several tenant spaces to additional physicians and specialized medical practitioners. The Borrower recently emerged from Chapter 11 Bankruptcy and the Loan is performing via the in-place terms of the confirmed bankruptcy plan.
- Having recently emerged from Chapter 11 Bankruptcy, the Borrower has established a Bankruptcy Plan to service the subject $9,100,000 Allowed Secured Claim at an appealing rate of 5.69%.
- The Property is 100% master leased through 2019, providing stable cash flow to service the debt through the Loan’s April 2016 maturity (April 2017 extension option).
- The Master Tenant at the subject property is an affiliate of Northside Hospital, a prominent Atlanta-area healthcare provider. Northside Hospital is in discussions to merge with Gwinnett Medical Center which could reportedly close in early 2016 and largely increase the combined system’s Atlanta footprint.
- The Property is conveniently located in the John’s Creek submarket of Atlanta, enjoying close proximity to Emory Johns Creek Hospital (110-beds) and the surrounding dense medical office corridor on Johns Creek Parkway.
Loan Information (Allowed Secured Claim)
Status: Performing per Confirmed BK Plan
Orig. Allowed Secured Claim: $9,100,000
Current Loan Balance: $8,803,055
Interest Rate: 5.69%
Maturity Date: April 11, 2016
Extended Maturity Date: April 11, 2017
Collateral Type: Medical Office Building
City, State: Suwanee, GA (Atlanta suburb)
Size (SF): 52,090
Economic Occupancy: 100.00%
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