Capital One Secures $44M Loan for NC MOB Portfolio

By Alex Ciorogar

Capital One Healthcare has provided a $44.4 million acquisition loan for the purchase of a medical office building portfolio in N.C. The borrower is a partnership between Heitman—a global real estate investment management firm—and Montecito Medical, a privately-held real estate company.

“Our team has closed many deals with both Heitman and Montecito. Our understanding of their strategy was a major factor in our ability to develop a financing solution that aligns with their strategic vision and to close the transaction efficiently,” said Erik Tellefson, managing director of Capital One Healthcare, in prepared remarks.

Montecito specializes in the acquisition and funding of medical office building development. The firm has acquired over $1.7 billion in medical office/medical properties since its inception. Founded in 1966, Heitman invests in private equity, private debt and public equity markets around the world and has $37.5 billion in assets under management.

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.

A few months ago, Capital One Healthcare recapitalized a 28-property medical office building portfolio.