March 18, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged financing totaling $40.84 million for two single-tenant medical office buildings: Aurora Health Center in Wauwatosa, Wisconsin, and Tulsa Spine and Specialty Hospital in Tulsa, Oklahoma.
HFF worked on behalf of the borrowers, to secure 10-year, fixed-rate acquisition loans for each property. The financings were provided by two national bank lenders active in healthcare lending.
The Aurora Health Center was completed in 2010 and consists of 60,800 square feet of medical office space that is fully leased to Aurora Health Care, Inc. Located at 2999 North Mayfair Road, the three-story property is positioned close to Interstate 41 about seven miles east of downtown Milwaukee. Additionally, the asset is situated in a busy commercial corridor across from the Mayfair Mall and close to Froedtert Hospital, Mount Mary University and Milwaukee County Research Park.
Completed in 2002, the Tulsa Spine & Specialty Hospital features 130,959 square feet containing 10 operating rooms and 38 beds. A total of 57 physicians practice at the hospital, which is fully leased to Tulsa Spine & Specialty Hospital, LLC. The facility is situated on 11.54 acres at 6901 South Olympia Avenue close to U.S. Route 75 and Interstate 44 in southern Tulsa.
The HFF debt placement team representing the borrowers included senior director Zack Holderman and managing directors Jason Bond and Elliott Throne.
“Our relationship with lenders with a known expertise in healthcare lending, along with excellent borrowers, resulted in two very strong, long-term and low-cost bank financings,” Holderman added.