{"id":1004726617,"date":"2024-08-26T01:25:47","date_gmt":"2024-08-26T09:25:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004726617"},"modified":"2024-08-26T01:26:41","modified_gmt":"2024-08-26T09:26:41","slug":"onicx-lands-refi-for-miami-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/onicx-lands-refi-for-miami-mob\/","title":{"rendered":"Onicx Lands Refi for Miami MOB"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004726619\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mercy-medical-arts-image-courtesy-of-commercialedge-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.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;\\u00a9 Yardi Systems, Inc.&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=\"Mercy Medical Arts. Image courtesy of CommercialEdge\" data-image-description=\"&lt;p&gt;Mercy Medical Arts building in Miami&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 104,238-square-foot Mercy Medical Arts building came online in 2017. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.jpg\" alt=\"Exterior of Mercy Medical Arts building in Miami\" class=\"wp-image-1004726619\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Mercy-Medical-Arts.-Image-courtesy-of-CommercialEdge-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">The 104,238-square-foot Mercy Medical Arts building came online in 2017. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The Onicx Group has received $20.7 million in refinancing for Mercy Medical Arts, a 104,238-square-foot medical office building in Miami. Lake Michigan Credit Union provided the loan, according to Miami-Dade County records. Berkadia Medical &amp; Life Sciences represented the borrower.<\/p>\n\n\n\n<p>Previous financing included a $20 million construction loan originated by Centennial Bank in 2015, CommercialEdge data shows. <\/p>\n\n\n\n<p>The Class A property came online in 2017 and was 65 percent leased at the time of the current deal to a variety of <a href=\"https:\/\/www.commercialsearch.com\/news\/mob-tenants-pay-a-premium-for-these-markets\/\">medical office building tenants<\/a>, including HCA Healthcare, Collaborative Women\u2019s Care, Vizcaya Dental Arts and Greyledge Technologies.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/these-markets-top-mob-investment-activity\/\">These Markets Top MOB Investment Activity<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The five-story building features two passenger elevators, 26,405-square-foot floorplates and controlled access. The medical facility provides such services as OB\/GYN, plastic surgery, dermatology and sports medicine.<\/p>\n\n\n\n<p>Located at 3683 S. Miami Ave., the 31.7-acre property is within the campus of HCA Mercy Florida Hospital, having access to Interstate 95. Downtown Miami is less than 4 miles northeast. Other medical centers in the surrounding area include Miami General Medical Center, Luz Medical Center, Comprehensive Rehabilitation Center, Palm Medical Network and Coral Way Medical Group, among others.<\/p>\n\n\n\n<p>The Berkadia team included Senior Managing Director Sabrina Solomiany, Vice President Mike Cerny and Analyst Chris Meyer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-financing-health-care-assets\">Financing health-care assets<\/h2>\n\n\n\n<p>Despite the impact of high interest rates and inflation on all sectors of commercial real estate, medical office buildings are still on investors&#8217; radar. The stable and long-term <a href=\"https:\/\/www.commercialsearch.com\/news\/medical-office-to-perform-well-in-2024-report\/\">occupancy in health-care facilities<\/a>, coupled with ongoing demand, enable financing opportunities.<\/p>\n\n\n\n<p>Earlier this month, Turner Impact Capital\u2019s Healthcare Facilities Fund received $29.1 million in financing for <a href=\"https:\/\/www.commercialsearch.com\/news\/turner-impact-capital-lands-29m-for-san-diego-mob\/\">Chula Vista Medical Arts I<\/a>, a 64,231-square-foot medical office building some 10 miles from downtown San Diego. Proceeds will go toward property improvement.<\/p>\n\n\n\n<p>Another recent financing deal involved a future 200,000-square-foot outpatient center in Bethany, Okla. <a href=\"https:\/\/www.commercialsearch.com\/news\/oklahoma-health-center-lands-167m-for-campus-expansion\/\">Bethany Children\u2019s Health Center<\/a> received $167 million from local financial institutions and MidFirst Bank for the development of this four-story facility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lake Michigan Credit Union provided the loan for this Class A property.<\/p>\n","protected":false},"author":2829,"featured_media":1004726619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21754,1492,21742,32781],"tags":[32894,46490,49441],"class_list":["post-1004726617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-medical-office","category-miami","category-latest","category-southeast","tag-berkadia","tag-centennial-bank","tag-onicx"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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