Medical Office Portfolio

Transaction description

David Hamilton, Principal at PSRS, recently closed $89 million in portfolio financing on 8 medical office buildings located in Southern California and Miami. The financing was arranged on behalf of Hamilton’s borrower, ShareMD, and funded by one of PSRS’ CMBS lenders. PSRS was able to achieve a cash-out re-finance on the existing California portfolio to reduce the equity need for the Miami acquisitions. They also successfully provided the sponsor maximum leverage and were able to incorporate three years interest only and a non-recourse structure.

David Hamilton has worked alongside with ShareMD as their exclusive financing agent since early 2016. Hamilton discussed how he fostered the relationship by stating, “Success in mortgage banking comes slowly and requires patience. In the case of ShareMD, my initial focus was simply to provide value and establish trust, allowing the relationship to grow stronger over time.”

ShareMD initially burst onto the scene with their 2013 acquisition of The Garden View Professional Center in Encinitas, California. Since that time, the group has added an additional 12 buildings to the portfolio, accumulating a total square footage that now exceeds 920,000 square feet. ShareMD is a medical real estate and physician practice solution company with an emphasis on technology-enabled, shared medical environments.