May 15, 2024 – Capital One’s Medical Office team, part of the Capital One Healthcare Real Estate business, closed over 30 deals totaling in excess of $1.5 billion throughout 2023. The team funded transactions ranging from $15 million single-asset loans to $350 million portfolios across medical office buildings, medical properties and healthcare REIT lending.
Since 2010, the team – which was acquired in 2015 by Capital One from GE Capital Healthcare Financial Services – has financed in excess of $27 billion in balance sheet debt in the medical office, medical properties, Healthcare REITs and life sciences space.
During a challenging year with rising interest rates and uncertain capital markets Capital One executed on behalf of our customers, supporting their business plans when certainty of execution was of utmost importance. Our healthcare expertise, structuring flexibility and streamlined processes were vital to the transactions we closed in 2023.
Medical Office Transactions
Kayne Anderson Real Estate and Remedy Medical Properties: Capital One financed a transaction for Kayne Anderson Real Estate and Remedy Medical Properties which included syndication of a $173.26MM senior secured term loan to finance the acquisition of 13-asset medical office buildings located in eight states.
Kayne Anderson Real Estate’s Saperean Capital: CONA financed a note-on-note purchase of a portfolio of medical office loans in excess of $350MM.
MedProperties: Capital One financed two transactions for MedProperties, including a $54 million transaction to finance the acquisitions of three medical office properties located in three states.
Montecito Medical Real Estate: Capital One financed multiple transactions including deals in the $15MM range to larger portfolios in excess of $100MM.
FOSUN International: Capital One provided $45 million to refinance a nine-asset medical office building portfolio located in six states.
Thurston Dental REIT: Capital One financed five transactions for Thurston Dental REIT throughout the year. These transactions included $22MM in loan funds for the acquisition of multiple dental / orthodontic facilities located across the country.
Altera Development and Virtus Real Estate Capital: Capital One provided a $32 million loan to finance the acquisition of a four-asset, medical office building portfolio located in Arizona.
The Healthcare Real Estate Medical Office team provides customized solutions to the medical office and life science sectors. Products include senior secured first mortgages and specialty debt instruments (unitranche, incremental pooled loan structures) for investors, acquirers and developers of Medical Office Buildings and other medical and life science properties.
Capital One Healthcare is a leading provider of financial services to the industry. 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. Additional information can be found at capital.one/healthcare.
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