Oak Hills Medical Plaza

Transaction description

Oak Hills Medical Plaza, originally built in 1985, is a six-story, glass and steel office building in West Hills California, and is home to 21 medical-related tenants.  It is conveniently located adjacent to West Hills Hospital, presenting a nice advantage for doctors who have practices there and also visit patients at the hospital.  PSRS arranged a cash-out refinance of an existing CMBS loan for the property, on a 10-year interest only basis. The financing will allow the borrower to perform some anticipated upgrades to the property without dipping into cash reserves.  PSRS leveraged one of its’ many lender relationships to increase loan proceeds while maintaining the interest only nature of the loan.  The borrower was a referral from an existing client of PSRS.