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News Release: Medical Office Conversion Financing – Rio Vista Plaza (San Diego)

JUST FINANCED

RIO VISTA PLAZA

San Diego, CA

Medical Office Conversion Financing: Rio Vista Plaza

CBRE U.S. Healthcare and Life Sciences Capital Markets is pleased to announce the placement of acquisition and reposition financing for Anchor Health Properties, to help facilitate the purchase and conversion of Rio Vista Plaza to a 100% medical office building. Zack Holderman, Sabrina Solomiany, and Cole Reethof acted as the exclusive advisors to Anchor Health Properties, a leading, nationwide, full-service healthcare real estate company with over 7,000,000 square feet under management and over 1,000,000 square feet in development.

Rio Vista Plaza is a four-story Class A office building, located in Mission Valley, San Diego, California. The ±81,393-square-foot property is currently 83% leased and will immediately begin the conversion process to medical office, providing for tremendous value creation through its repositioning. “The San Diego medical office market is thirsty for new supply, boasting a 6.6% vacancy rate with a line of sight to +/-5% by year-end. Anchor’s commitment to the region, as well as creatively acquiring and delivering class A medical office buildings is a testament to their knowledge and expertise,” added Holderman.

CBRE negotiated a Life Insurance Company, non-recourse, interest-only bridge financing at a highly competitive interest rate with additional proceeds for Tenant Improvements, Leasing Commissions and Capital Expenditures.

Hunter Rowe, Louay Alsadek, and Maddie Mawby of CBRE Capital Markets Office West – San Diego represented the Seller in the transaction.

For more information, or if we can help with your healthcare real estate holdings, please contact us.

For more information, please contact:

ZACK HOLDERMAN

Senior Vice President
Debt & Structured Finance
+1 858 546 4670

SABRINA SOLOMIANY

First Vice President
Debt & Structured Finance
+1 404 536 5054

CHRIS BODNAR

Vice Chairman
Investment Properties
+1 303 628 1711

LEE ASHER

Vice Chairman
Investment Properties
+1 404 504 5965

RYAN LINDSLEY

Senior Director
Investment Properties
+1 303 628 1745

JORDAN SELBIGER

Director
Investment Properties
+1 404 923 1259

COLE REETHOF

Associate Director
Debt & Structured Finance
+1 404 504 7864

www.cbre.us/cm-healthcare

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