{"id":1004224266,"date":"2018-04-26T07:43:01","date_gmt":"2018-04-26T15:43:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004224266"},"modified":"2022-12-08T13:10:56","modified_gmt":"2022-12-08T21:10:56","slug":"125m-san-diego-area-mob-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/125m-san-diego-area-mob-changes-hands\/","title":{"rendered":"$125M San Diego-Area MOB Changes Hands"},"content":{"rendered":"<p>By Alex Ciorogar<\/p>\n<div id=\"attachment_1004224269\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004224269\" data-attachment-id=\"1004224269\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/125m-san-diego-area-mob-changes-hands\/el-centro-regional-medical-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Alexandru Ciorogar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1524740970&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=\"El Centro Regional Medical Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;El Centro Regional Medical Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg?w=800\" class=\"wp-image-1004224269 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/El-Centro-Regional-Medical-Center.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004224269\" class=\"wp-caption-text\">El Centro Regional Medical Center<\/p><\/div>\n<p>Dallas-based Preston Hollow Capital (PHC) has arranged a $125 million tax-exempt transaction, providing financing for the El Centro Regional Medical Center, a UC San Diego Health Care Network-affiliated <a href=\"https:\/\/www.commercialsearch.com\/news\/mbre-healthcare-acquires-37m-san-diego-mob\/\">municipal hospital, agency and enterprise in the City of El Centro, Calif.<\/a><\/p>\n<p>The loan will be used to renovate the facility. Improvements include a new 29,000-square-foot Ancillary Service Building, expansion of the emergency department, upgrades to the medical center\u2019s boiler room, including medical air upgrades and existing-building upgrades to meet SPC-4D seismic-compliance requirements. The loan will also refinance the existing debt. KeyBanc Capital Markets served as the underwriter, Wulff Hansen &amp; Co. served as financial advisor and Norton Rose Fulbright served as bond counsel to the Medical Center. PHC was the sole investor on the financing.<\/p>\n<p><em>\u201cThis transaction exemplifies how PHC can provide significant value to its municipal issuer clients by providing long-term funding for a complicated financing structure and credit,\u201d<\/em> said Charlie Visconsi, managing director of PHC, in a prepared statement. <em>\u201cAs Preston Hollow Capital grows and diversifies its investment portfolio, we\u2019re able to offer many similar solutions to tax-exempt issuers across all asset classes.\u201d<\/em><\/p>\n<p><em>Photo via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preston Hollow Capital was the sole investor in the financing, which will be used for both improvements and refinancing purposes.<\/p>\n","protected":false},"author":928,"featured_media":1004224269,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21783,21754,21742,1608,15],"tags":[32937,40047,34971],"class_list":["post-1004224266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-investment","category-medical-office","category-latest","category-san-diego","category-west","tag-keybank","tag-norton-rose-fulbright","tag-preston-hollow-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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