BAYONET POINT, FL-MMIC has obtained $10.55 million in financing to acquire the three-building Summit Medical Plaza on State Road 52. Summit Medical Plaza consists of one- and two-story medical office facilities with 49,925 sf.
Des Moines-based Principal Global Investors provided the financing, which was a non-recourse, five-year term loan. The financing was arranged by Craig Romer, of Delray Beach-based Dockerty Romer & Co.
Constructed between 2000 and 2003, the buildings are 94% occupied. The buildings are located three miles south of the HCA Regional Medical Center in Pasco County and contain tenants that provide complementary services to the medical center.
"Healthcare is a specialized area of the market," Romer says. "Each transaction presents unique nuances such as hospital ground leases, specialized tenant needs, governmental licensing/regulations and overnight stay beds."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
