BMO’s Healthcare Real Estate Finance group announces that it has closed on a $10.1 million term loan to an affiliate of UDLR Healthcare (“UDLR”) for its acquisition of a 92,811 square foot medical outpatient building (“MOB”) known as Thunderbird Medical Plaza. The MOB is located on the campus of Banner Health’s 595-bed Thunderbird Medical Center Campus in Glendale, Arizona. As part of its investment, UDLR intends to embark on a multi-million dollar renovation of the MOB.
Headquartered in Scottsdale, Arizona, UDLR is a recently formed venture between GI Partners and former executives from Healthcare Trust of America to invest in MOBs. The company aims to create alignment across all sector stakeholders via partnership with leading health systems and physicians. UDLR Healthcare utilizes data driven analysis and a deep understanding of value creation for MOB stakeholders to provide innovative real estate solutions to healthcare providers and patients. For more on the platform’s team and investment strategy, please visit www.udlr.com.
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