Ariel Property Advisors has arranged $21.7 million in financing for the acquisition of a five-building freestanding independent emergency room portfolio in Houston. Financing was arranged by the team including Eli Weisblum, Director, Capital Services, and Paul McCormick, Senior Vice President, Investment Sales and Capital Services.
The 34,587-square foot property consists of five freestanding emergency room buildings scattered across the Houston market. The 75-percent LTV financing was secured with an interest rate of 4.5 percent, a five-year term, no prepayment penalty and closed in 60 days.
“The post-pandemic healthcare investment market is highly active and the Houston area in particular is one of the prime medical ecosystems in the country,” said Weisblum. “As a result, this property fielded a competitive bidding process that resulted in advantageous terms for the buyer.”
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.arielpa.nyc
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