AW Properties recently secured $55.2 million in financing for a portfolio of nine medical properties totaling 297,500 square feet across Burlington, Durham and Greensboro in North Carolina. The loan was used to acquire the entire portfolio.
The 10-year fixed-rate loan was placed by JLL with a life company. Representing the borrower were Travis Anderson and Anthony Sardo from JLL Capital Markets Debt Advisory team.
Built around 2006 on average, these properties are currently leased at an impressive rate of 99% to top healthcare systems and dominant independent physician practices. Credit tenants make up about 73% of the income generated by these properties which are all strategically located either on or near hospital campuses within the markets of Burlington, Durham and Greensboro.
Some notable assets included in this portfolio are Cone Health Neurology Clinic, Wesley Long MOB (located at 2001 North Church Street) in Greensboro; Alamance Eye Center situated in Burlington; UNC Family Medicine Center; as well as Duke Medical Center located within Durham’s vicinity.
