Capital One announced that it provided a $107 million adjustable rate loan to refinance a 20-asset medical office building portfolio totaling 789,000 square feet. 

The loan consists of $92 million in initial funding and a holdback for tenant improvements/leasing commissions. The portfolio consists of eight on-campus facilities, 11 off-campus facilities, and one adjacent to a hospital campus.

Separately, Capital One provided a $222.6 million adjustable rate loan to refinance a 36-asset medical office building portfolio. In both cases the borrower is a joint venture owned by Kayne Anderson Real Estate and MB Real Estate (MBRE) Healthcare.

“Over the last six years we have been privileged to partner with Kayne Anderson and MBRE Healthcare on a series of transactions,” said Erik Tellefson, Managing Director of Capital One Healthcare Real Estate. “This extended relationship positions us to deliver financing solutions that address their evolving needs.” Since 2012, Capital One has executed more than 40 transactions for the Kayne Anderson/MBRE Healthcare joint venture.