{"id":1004711046,"date":"2024-04-19T01:44:20","date_gmt":"2024-04-19T09:44:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004711046"},"modified":"2024-04-19T03:53:47","modified_gmt":"2024-04-19T11:53:47","slug":"tristar-realty-secures-50m-for-los-angeles-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tristar-realty-secures-50m-for-los-angeles-mob\/","title":{"rendered":"Tristar Realty Secures $50M for Los Angeles MOB"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004711047\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tristar-realty-secures-50m-for-los-angeles-mob\/19357-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg\" data-orig-size=\"1000,750\" 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;0&quot;}\" data-image-title=\"19357-1\" data-image-description=\"&lt;p&gt;Property at 18133 Ventura Blvd., Tarzana, Calif.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Property at 18133 Ventura Blvd., Tarzana, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg\" alt=\"Property at 18133 Ventura Blvd., Tarzana, Calif.\" class=\"wp-image-1004711047\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Ventana Medical Plaza also includes 4,200 square feet of ground-floor retail. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Tristar Realty Group has secured a $50 million refinancing loan for Ventana Medical Plaza, a 112,000-square-foot Class A medical office building in Tarzana, Calif. First Citizens Bank\u2019s Healthcare Finance business originated the note.<\/p>\n\n\n\n<p>The developer purchased the 2.5-acre site\u2014which at the time included a 20,000-square-foot retail building dating back from the 1950s\u2014in 2008. Ventana came online in 2017, the same year Tristar refinanced the corresponding construction debt with <a href=\"https:\/\/www.commercialsearch.com\/news\/la-area-mob-lands-51m-refi\/\">a $51 million loan<\/a> from Capital One.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/medical-office-to-perform-well-in-2024-report\/\">Medical Office to Perform Well in 2024: Report<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Rising four stories, the medical office building features 30,964-square-foot floorplates, as well as 4,200 square feet of retail space. The property also comprises a six-story detached parking garage providing 5 spaces per 1,000 square feet.<\/p>\n\n\n\n<p>Providence Health System and Cedars Sinai Medical Center co-anchor Ventana Medical Plaza. The facility also includes facilities for MRI and PET\/CT scans, as well as an 8,000-square-foot linear accelerator for radiation-based cancer treatment and a 12,500-square-foot surgery center.<\/p>\n\n\n\n<p>Located at 18133 Ventura Blvd., Ventana Medical Plaza is less than 1 mile south of U.S. Route 101 and roughly 6 miles west of Interstate 405, as well as some 21 miles northwest of downtown Los Angeles. The property is also close to Providence Cedars-Sinai Tarzana Medical Center, which recently underwent a $624 million expansion project.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-first-citizens-bank-s-health-care-deals\">First Citizens Bank&#8217;s health-care deals<\/h2>\n\n\n\n<p>First Citizens Bank&#8217;s Healthcare Finance business has had a steady stream of activity in the past 12 months. Last September, it provided Onicx Group with $29 million for the <a href=\"https:\/\/www.commercialsearch.com\/news\/onicx-secures-29m-refi-for-florida-mobs\/\">refinancing of two Florida medical office buildings<\/a>.<\/p>\n\n\n\n<p>Also in September, First Citizens\u2019 division of Silicon Valley Bank originated a $14.5 million loan used by Faros Properties to refinance a 73,060-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/faros-properties-lands-refi-for-connecticut-medical-facility\/\">medical facility in Stamford, Conn.<\/a><\/p>\n\n\n\n<p>A month prior, a joint venture led by Rethink Healthcare Real Estate <a href=\"https:\/\/www.commercialsearch.com\/news\/rethink-healthcare-lands-50m-refi-for-dc-area-mob\/\">secured a $50.3 million loan<\/a> for a 169,000-square-foot medical office building in Silver Spring, Md. First Citizens\u2019 Health Care division provided the financing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First Citizens Bank originated the loan.<\/p>\n","protected":false},"author":3471,"featured_media":1004711047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1594,21754,21742,15],"tags":[33278,36278],"class_list":["post-1004711046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-los-angeles","category-medical-office","category-latest","category-west","tag-first-citizens-bank","tag-medical-office-building"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tristar Realty Secures $50M for Los Angeles MOB - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Tristar Realty Group has secured a $50 million refinancing loan for Ventana Medical Plaza, a medical office building in Tarzana, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tristar-realty-secures-50m-for-los-angeles-mob\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tristar Realty Secures $50M for Los Angeles MOB\" \/>\n<meta property=\"og:description\" content=\"Tristar Realty Group has secured a $50 million refinancing loan for Ventana Medical Plaza, a medical office building in Tarzana, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tristar-realty-secures-50m-for-los-angeles-mob\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-19T09:44:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-19T11:53:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/19357-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tristar-realty-secures-50m-for-los-angeles-mob\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tristar-realty-secures-50m-for-los-angeles-mob\/\",\"name\":\"Tristar Realty Secures $50M for Los Angeles MOB - 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