Loan from Capital One Healthcare funds 820,000 s.f. portfolio, plus a $250M line of credit,
By John B. Mugford
Stewart (left) and Mark Davis (Photo courtesy of Davis)
Minneapolis-based Davis, one of the healthcare real estate (HRE) sector’s longest-standing firms, has secured a $171 million refinancing for a 19-property portfolio with more than 820,000 square feet of space in eight states.
In addition to the refinancing, which the firm secured from Capital One Healthcare, part of Tysons, Va.-based Capital One Financial Corp. (NYSE: COF), Davis also received a line of credit of up to $250 million.
Davis, a longtime HRE development firm that makes acquisitions through its five-year-old, open-ended Davis Medical Investment Fund (DMI), says the refinancing and line of credit strengthen its “current portfolio economics while also positioning the firm for sustained growth in the years ahead.”
“The renewed facility includes
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