Matthews Capital Markets has secured a $22.5 million acquisition loan for a medical office building portfolio in Oxnard, Calif., according to a May 4 report from RE Business Online.
The 193,066-square-foot portfolio includes four properties and was 92% occupied at the time of the sale.
The undisclosed borrower plans to expand medical uses, invest into interior building upgrades and integrate energy-efficient systems across the portfolio.
The MOBs and regional medical centers were acquired by the borrower at a 10% cap rate, the report said.
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