BOSTON, Sept. 11, 2024 – JLL Capital Markets announced today that it has arranged a $38.5 million refinancing for a six-property national medical portfolio totalling 160,060 square feet across five states.

Working on behalf of Provider Real Estate Partners (“PREP”), JLL secured the three-year loan through Miami-based BankUnited, who is acutely attuned to the healthcare sector. The new lending relationship for PREP enhances their portfolio growth in outpatient medical buildings nationwide. 

The portfolio is 100% occupied to a diverse mix of market leading health systems and independent physician groups, across the Southeast, Midwest and Southwest. All of the assets were built between 2007 and 2020 are located in Michigan, North Carolina, South Carolina, New Mexico and Georgia (two properties).

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Anthony Sardo, Associate Tara Hagerty and Analyst Matt Sykes.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Provider Real Estate Partners, LLC is a Cleveland, Ohio-based commercial real estate fund management and advisory firm. Founded in 2020, PREP focuses on acquisition and development strategies across the healthcare, industrial, and retail sectors, all of which benefit from robust fundamental tailwinds. Its team is led by seasoned executives with decades of experience executing investments in commercial real estate. PREP has acquired or advised on acquisitions of over $100MM of assets throughout the United States.