Bethesda, Md. (July 27, 2016) – Capital One announced today that it has provided an $11.9 million first mortgage to MedProperties Holdings, LLC to finance the acquisition of the 28,000-square-foot Center for Minimally Invasive Surgery in Mokena, Illinois. The center is equipped with four operating rooms, a 14,000-square-foot surgery center and a 5,350-square-foot recovery center.
MedProperties is a Dallas-based private equity firm, which focuses solely on the development and acquisition of healthcare real estate, including medical offices, ambulatory surgical centers, inpatient rehab facilities, surgical hospitals and long-term acute care hospitals.
“MedProperties is a valued client of Capital One Healthcare, and we have worked closely with them across a spectrum of different types of healthcare assets,” said Erik Tellefson, Managing Director of Capital One Healthcare. “With our specialized focus on the healthcare real estate market, the Capital One team can bring a level of expertise and execution that has formed the basis for a strong working relationship with the leaders at MedProperties.”
“This transaction will allow us to continue to grow our portfolio of healthcare real estate assets,” said Darryl Freling, Managing Principal of MedProperties. “The Capital One team worked closely with us to structure the loan to conform with our strategic goals for the property.”
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 $221.1 billion in deposits and $339.1 billion in total assets as of June 30, 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, 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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