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Medical Office Building Secures $40M

BEVERLY HILLS, CA—Starpoint Properties LLC borrows the funds to refinance senior debt on its 101,653-square-foot medical office building.

By Kelsi Maree Borland | Updated on April 25, 2014

BEVERLY HILLS, CA—Starpoint Properties LLC, a commercial real estate investment firm, has secured a $40 million loan to refinance the senior debt on a medical office building. Starpoint Properties secured the loan through HFF.

The 101,653-square-foot property is located at 450 N. Roxbury Dr. in Beverly Hills, CA, near the Golden Triangle area, and is 100% occupied. Other medical office portfolios are also located in the area. GlobeSt.com reported recently G&L Realty secured a $176.5 million loan for a nearby medical office portfolio with five properties. The area draws a lot of interest for medical office buildings because of its close proximity to Cedars-Sinai Medical Center and UCLA Medical Center.

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