Pasadena Medical Office

Transaction description

David Sarnoff of PSRS arranged the $3,618,000 acquisition and re-development financing of a medical office conversion in Pasadena, California. The subject property is currently a Class C warehouse industrial property with office space and a mezzanine level. Ventana Ventures and CURATO Design Build will be converting the space for its new owners into a medical office building with 15 exam rooms, a large open waiting room, six private offices, and plenty of cubicle space for office support staff. Financed with bank execution, PSRS was able to secure for its borrower a six-year term with one year of interest only during the construction period.