CBRE Secures $23.3 Million Refinancing for Six Property Medical Office Portfolio Across Texas, Arizona and Ohio

CBRE Debt & Structured Finance arranged $23.3 million in refinancing for a six‑property, 130,191 sq. ft. medical office portfolio across Texas, Arizona and Ohio. Three of the properties are within the Dallas-Fort Worth metroplex, with the other three in Houston, Texas; Phoenix, Arizona; and Toledo, Ohio.

Davis Edwards and Farhan Kabani with CBRE’s Debt & Structured Finance group in Dallas arranged the financing on behalf of HealthCap Partners, a Dallas‑based healthcare real estate investment firm.

The portfolio is 95% occupied and includes a diverse mix of medical tenants across high‑growth markets. HealthCap Partners, with more than $1 billion in historical medical office investment experience, continues to expand its national footprint in outpatient medical facilities and healthcare‑related real estate.

The refinancing consolidates the six assets into a newly created fund structure supported by a single credit facility. The interest‑only, non‑recourse loan features an attractive fixed-rate and tailored term, providing both stability and flexibility for the client’s broader business strategy.

“This financing allowed our client to transition from deal‑by‑deal transactions into a unified fund structure, unlocking operational efficiencies and aligning with their long‑term plan,” said Davis Edwards, a vice president with CBRE. “Consolidating these assets under one credit facility allows ownership to dispose of individual properties or the entire portfolio easily in the future.”

CBRE sourced a structure that delivered higher leverage than competing market quotes while maintaining competitive pricing. Of the total loan amount, a portion is reserved for future tenant improvements, leasing commissions and capital expenditures, which offers significant operational flexibility. The financing also features favorable release provisions, accommodating potential asset-by-asset dispositions.

“CBRE’s ability to prove up valuation and secure a competitive, market‑leading structure was instrumental in achieving the client’s objectives,” added Farhan Kabani, an executive vice president, CBRE. “This refinancing optimally positions HealthCap to continue delivering long‑term value while maintaining the flexibility required in today’s healthcare real estate environment.”