Success in mortgage banking comes slowly and requires patience. In the case of Medicus, my initial focus was simply to provide value and establish trust, allowing the relationship to grow stronger over time.
SAN DIEGO (PRWEB) May 14, 2018
Pacific Southwest Realty Services (PSRS) is pleased to announce that David Hamilton, Vice President in the San Diego office, closed a $44,000,000 loan secured by four medical office buildings in Southern California. The financing was arranged on behalf of Hamilton’s borrower, Medicus Property Group and funded by one of PSRS’ relationship debt funds out of San Francisco. The financing was structured as a re-finance of three of the borrower's existing properties in tandem with the acquisition financing for the "El Camino" in Encinitas.
The high-leverage, non-recourse loan had a floating interest rate and a flexible pre-payment structure which includes a $3,250,000 reserve that the borrower can access for capital expenditures, tenant improvements, and leasing commissions.
David Hamilton has worked alongside with Medicus Property Group as their exclusive financing agent since early 2016. Hamilton discussed how he fostered the relationship by stating, “Success in mortgage banking comes slowly and requires patience. In the case of Medicus, my initial focus was simply to provide value and establish trust, allowing the relationship to grow stronger over time.”
Medicus Property Group initially burst onto the scene with their 2013 acquisition of The Garden View Professional Center in Encinitas, California. Since that time, the group has added an additional four buildings to the portfolio, accumulating a total square footage that now exceeds 155,000 square feet. Medicus is not just an owner and operator of medical office buildings, but also owners of several medical practices including Oasis MD, Image Spa, and WeshareMD, allowing them to occupy available space in their buildings and drive value for the real estate.
Contact David Hamilton today to discuss your financing opportunities!
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