{"id":1004752685,"date":"2025-03-31T06:01:38","date_gmt":"2025-03-31T14:01:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004752685"},"modified":"2025-04-01T05:33:03","modified_gmt":"2025-04-01T13:33:03","slug":"orthoindy-lands-45m-for-indianapolis-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orthoindy-lands-45m-for-indianapolis-mob\/","title":{"rendered":"OrthoIndy Lands $45M for Indianapolis MOB"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004752691\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/orthoindy-lands-45m-for-indianapolis-mob\/orthoindy-south\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.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=\"OrthoIndy South\" data-image-description=\"&lt;p&gt;Exterior shot of OrthoIndy South, a two-story building with red fa\u00e7ade.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;OrthoIndy South came online in 2010 and is less than 13 miles from downtown Indianapolis. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.jpg\" alt=\"Exterior shot of OrthoIndy South, a two-story building with red fa\u00e7ade.\n\" class=\"wp-image-1004752691\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/OrthoIndy-South.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">OrthoIndy South came online in 2010 less than 13 miles from downtown Indianapolis. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure>\n\n\n\n<p>OrthoIndy has obtained $45 million for the refinancing of OrthoIndy South, a 77,600-square-foot medical office building in Greenwood, Ind., according to CommercialEdge information. Webster Bank provided the permanent loan.<\/p>\n\n\n\n<p>The company acquired the facility in January 2020 for $51.8 million, the same source shows. The same year, the property became subject to a $46.1 million loan originated by Old National Bank.<\/p>\n\n\n\n<p>Located at 1260 Innovation Parkway, the two-story building is close to Interstate 65 and Indy South Greenwood Airport. Downtown Indianapolis is some 13 miles northwest. Other medical providers in the area include Option Care Health, Indiana Spine Group, Greenwood Dermatology and Goodman Campbell Brain and Spine.<\/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\/challenges-create-opportunities-says-mob-investor\/\">Challenges Create Opportunities, Says MOB Investor<\/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>Completed in 2010, the medical outpatient building provides physical therapy, imaging, pre-operative and urgent care services. The low-rise has a fitness center, 310 parking spaces and two passenger elevators.<\/p>\n\n\n\n<p>OrthoIndy currently has 11 locations in metro Indianapolis, out of which two are in Greenwood. The other facility is at 1579 Olive Branch Parke Lane, some 8 miles from OrthoIndy South.<\/p>\n\n\n\n<p>The medical office building sector is set to expand its inventory by 10.6 percent over the next five years, according to <a href=\"https:\/\/www.commercialsearch.com\/news\/why-mobs-remain-a-strong-bet-for-investors\/\">a JLL report<\/a>. Despite the optimistic outlook, construction activity remained constrained in the fourth quarter of last year, with new starts hitting a record low of 0.8 percent of existing stock.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Previous financing includes a $46 million loan from 2020, CommercialEdge data shows.<\/p>\n","protected":false},"author":3355,"featured_media":1004752691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1590,21754,13,21742],"tags":[34886],"class_list":["post-1004752685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-indianapolis","category-medical-office","category-midwest","category-latest","tag-webster-bank"],"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>OrthoIndy Lands $45M for Indianapolis MOB - 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