The two firms state that the property, which is expected to be completed and ready for occupancy in the first quarter of 2021, will “deliver the critical infrastructure and support network needed to advance biomedical research.”

A Miami-based Berkadia team secured the loan for Advenir, which is upgrading its Turnbury at Palm Beach Gardens community.

The Los Angeles-based commercial and industrial investment firm sold the property, which is fully leased to True Value, to a joint venture of Brennan Investment Group, LLC of Chicago and Greenwich, CT-based Arch Street Capital Advisors, LLC.

The 90,000-square-foot medical office building is located across from the Providence Cedars-Sinai Tarzana Medical Center.