Cushman & Wakefield’s Tyler Morss Represents Montecito Medical Real Estate in Financing for 100 & 200 Clint Blvd.
NEW YORK, August 2, 2024 – Cushman & Wakefield announced today that firm represented investor Montecito Medical Real Estate in securing $15 million in bank financing for the acquisition of 100 and 200 Clint Boulevard in Paducah, Kentucky.
100 Clint Hill Boulevard
Cushman & Wakefield Director Tyler Morss represented Montecito in the transaction. Tyler is a member of the firm’s Healthcare Capital Market Team and focuses exclusively on equity, debt and structured finance for healthcare real estate across the US.
200 Clint Hill Boulevard
The two-building portfolio consists of 100 Clint Hill Blvd. which totals 18,610 square feet, and 200 Clint Hill Boulevard, which totals 43,346 square feet, on approximately 14 acres near U.S. Highway 62 and Interstate 24. It is fully occupied by Mercy Health-Lourdes Hospital LLC, an affiliate of Bon Secours Mercy Health.
“These well-located properties are leased long-term to a growing orthopedics practice within the region’s dominant healthcare system,” Morss said. “These two properties were not only highly attractive acquisitions for Montecito but also presented a compelling credit opportunity for lenders. Amidst the current difficulties in the debt markets and the limited pool of lenders specializing in healthcare, the introduction of a new credit source with a strong interest in healthcare real estate provides Montecito with a distinct competitive advantage as they continue to build a best-in-class healthcare portfolio.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
About Montecito Medical Real Estate
Montecito Medical is one of the nation’s largest privately held companies specializing in medical and veterinary real estate acquisitions and partnering with providers and developers to fund the development of new properties. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs, and build physician wealth. Since 2006, Montecito has completed more than $6 billion in medical real estate transactions. Headquartered in Nashville, TN, the company has been named for five consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information, please visit www.montecitomac.com.
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