{"id":1004194178,"date":"2017-10-18T04:31:34","date_gmt":"2017-10-18T12:31:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004194178"},"modified":"2022-12-08T20:49:34","modified_gmt":"2022-12-09T04:49:34","slug":"capital-one-provides-311-to-recap-mob-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-one-provides-311-to-recap-mob-portfolio\/","title":{"rendered":"Capital One Provides $311M to Recap MOB Portfolio"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004194181\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004194181\" data-attachment-id=\"1004194181\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/capital-one-provides-311-to-recap-mob-portfolio\/erik-tellefson-c-capital-one\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Erik Tellefson c Capital One\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Erik Tellefson &#8211; Managing Director, Capital One&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg?w=800\" class=\"wp-image-1004194181 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg\" alt=\"Erik Tellefson - Managing Director, Capital One\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Erik-Tellefson-c-Capital-One.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004194181\" class=\"wp-caption-text\">Erik Tellefson &#8211; Managing Director, Capital One<\/p><\/div>\n<p>A 28-property medical office building portfolio has just been recapitalized to the tune of $311 million, and Capital One had more than a little to do with it. The financial services company\u2019s healthcare division recently provided two loans to a partnership\u2014consisting of an institutional investor and a joint venture between Kayne Anderson Real Estate Advisors and MB Real Estate Healthcare\u2014for the 1.5 million-square-foot group of assets.<\/p>\n<p>The healthcare sector continues to be popular among lenders, and the asset&#8217;s strong occupancy and the market&#8217;s solid fundamentals have determined Capital One to provide financing for the portfolio. The joint venture\u2019s collection of MOBs, which spans 11 states, is 95 percent leased to a roster of 150 tenants.\u00a0<\/p>\n<p><em>&#8220;Our goal was to provide common ground, allowing the institutional investor to enter the medical office building market while addressing the need of Kayne Anderson and MB Real Estate to recapitalize the portfolio,&#8221;<\/em> Erik Tellefson, managing director for Capital One Healthcare. <em>&#8220;We worked closely with all parties to provide a financing solution that served everyone&#8217;s interests.&#8221;<\/em><\/p>\n<h2>MOB Stays Hot<\/h2>\n<p>The MOB sub-sector is still high on the radar of lenders and investors alike. <em>\u201cAs investor appetite for health care-related real estate has grown, medical office buildings have emerged as the most popular property type within the niche,<\/em>\u201d as noted in a report released in August by commercial real estate services firm CBRE Inc.<\/p>\n<p>Capital One isn\u2019t shy about giving its backing to premier MOB portfolios. Earlier this year, the company served as lead arranger and bookrunner for a $534.9 million loan to finance Starwood Property Trust\u2019s acquisition of a 34-property <a href=\"https:\/\/www.commercialsearch.com\/news\/capital-one-leads-half-billion-loan-for-starwoods-mob-deal\/\">MOB portfolio<\/a> totaling 1.9 million square feet. In July, Capital One took on the role of joint lead arranger, sole bookrunner, and administrative agent for a $250 million loan to Healthcare Trust Inc. for the refinancing of a 29-property, 1.7 million-square-foot collection of MOBs.\u00a0<\/p>\n<p><em>Image courtesy of Capital One<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial services company came through for the borrowers\u2014an institutional investor and a joint venture between Kayne Anderson Real Estate Advisors and MB Real Estate Healthcare\u2014arranging two loans for the recapitalization of 28 medical office buildings totaling 1.5 million square feet.<\/p>\n","protected":false},"author":969,"featured_media":1004194181,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,21754,23891,21742],"tags":[33139,37279,37280],"class_list":["post-1004194178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-medical-office","category-national","category-latest","tag-capital-one","tag-kayne-anderson-real-estate-advisors","tag-mb-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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