PEABODY, MA-Permanent financing in the amount of $10.6 million was secured for Orthopaedic Specialty Center, a 46,581-sf, class A, medical office and surgery center. The center is one of the first of its kind to open in the state. The center is located on the grounds of the North Shore Mall near Route 128.

Director Janet Krolman of the Boston office of Holliday Fenoglio Fowler LP arranged the loan on behalf of North Shore Orthopedics Realty LLC to secure the 10-year fixed-rate loan through Citigroup Global Markets Inc.

Sports Medicine North, an orthopedic practice, together with the surgery center, lease 75% of the building for 20 years. A partnership between Sports Medicine North, the surgicenter and Smith and Nephew operate a medical and surgical learning center in this space. The remainder of the building is leased to third party specialists including MRIs of New England, Physiotherapy Associates and Cornell Orthotics & Prosthetics Inc.

The property, which was originally built in 1985, was renovated this past spring. Included in the renovations are the surgical center, the research and learning center, an on-site MRI suite and a redesign and modernization of the physician clinic area.

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