MIAMI—GE Capital's Healthcare Financial Services business is showing confidence in both the medical office sector and the Jacksonville commercial real estate market. GE just inked a $72 million first mortgage to Landmark Healthcare Facilities LLC for a 210,000-square-foot outpatient medical complex in Jacksonville, FL.

“It was great to work with a premier medical office developer such as Landmark, as well as with Physicians Realty Trust, which provided the mezzanine financing,” says Erik Tellefson, a managing director of GE Capital, Healthcare Financial Services. “This transaction represents our strong commitment to the medical office space. We're confident this new community hospital in North Jacksonville will quickly become a crucial source of medical services while creating new jobs in the region,”

The healthcare real estate asset includes an outpatient care center and medical offices. The building is 100% leased to tenants like University of Florida Health (UF Health, which has its outpatient and specialty services there, as well as an academic medical center, and the University of Florida's physician practice group.

Community physician practices lease the remaining space in the building. The first phase of UF's new Health North campus opened in February.

“We've worked with GE Capital's Healthcare Financial Services business since 2011,” says Mark Eisenmann, Landmark's CFO. “In addition to being a reliable source of financing, we appreciate their in-depth understanding of the unique nature of medical office buildings.”

Landmark is based in Milwaukee, WI. The company is a full-service developer of physician office buildings and clinics, ambulatory care and surgery centers, cardiac and cancer centers, imaging centers, fitness and women's centers and laboratories. Formed in 1995, Landmark has developed more than 300 outpatient facilities.