Bethesda, MD (July 8, 2016) – Capital One announced today that it has provided $21.5 million in first mortgage financing for the acquisition of two properties in the Hudson Valley region of New York, a 66,000 square foot medical office building in Hudson and a 42,000 square foot medical office building in Cornwall. The purchaser is Physicians Realty Trust (NYSE:DOC) a publicly-traded healthcare real estate investment trust (REIT) based in Milwaukee, Wisc. that focuses on investing in medical properties. Vice President Jim McMahon of Capital One Healthcare originated the transactions.
As of March 31, 2016, the Milwaukee-based REIT owns medical properties valued at more than $1.8 billion in 27 states. The Hudson building is leased to Columbia Memorial Hospital and the Cornwall building is attached to St. Luke’s Cornwall Hospital.
“Having worked with Physicians Realty Trust in the past, Capital One Healthcare is pleased to support the team in the purchase of these medical office buildings,” said Capital One Healthcare Managing Director Erik Tellefson. “Physicians Realty Trust is an experienced operator with a strong portfolio of medical properties and we look forward to assisting them with future transactions.”
“Capital One’s deep knowledge of the medical office building market and expertise in structuring similar transactions were critical in making these acquisitions,” noted John Thomas, President and Chief Executive Officer of Physicians Realty Trust’s. “These are attractive properties and will make an outstanding addition to our portfolio.”
Capital One Healthcare is a leading provider of financial services to the industry with over $11 billion in total outstanding balances. 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.
Capital One Healthcare is a part of Capital One Commercial Banking, which leverages a relationship-based banking model that seamlessly delivers an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.
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 $221.8 billion in deposits and $330.3 billion in total assets as of March 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, New Jersey, Texas, Louisiana, Maryland, Virginia 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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