GE Capital’s Healthcare Financial Services (HFS) business announced today that it has provided a first mortgage to Landmark Healthcare Facilities LLC for a 210,000-square-foot outpatient medical complex in Jacksonville, FL.
The property is composed of an outpatient care center as well as medical offices. The fully-leased building includes the outpatient and specialty services of University of Florida Health (UF Health), an academic medical center, and the University of Florida’s physician practice group. Community physician practices lease the remaining space in the building. The first phase of UF’s new Health North campus opened in February.
Milwaukee, WI-based Landmark is a full-service developer of physician office buildings and clinics, ambulatory care and surgery centers, cardiac and cancer centers, imaging centers, fitness and women’s centers and laboratories. Formed in 1995, Landmark has developed more than 300 outpatient facilities.
“We’ve worked with GE Capital’s Healthcare Financial Services business since 2011,” said Mark Eisenmann, Landmark’s CFO. “In addition to being a reliable source of financing, we appreciate their in-depth understanding of the unique nature of medical office buildings.”
“It was great to work with a premier medical office developer such as Landmark, as well as with Physicians Realty Trust, which provided the mezzanine financing. This transaction represents our strong commitment to the medical office space. We’re confident this new community hospital in North Jacksonville will quickly become a crucial source of medical services while creating new jobs in the region,” said Erik Tellefson, a managing director of GE Capital, Healthcare Financial Services.
About Landmark Healthcare Facilities, LLC
Landmark Healthcare Facilities, LLC (landmarkleadership.com) is a leading full-service developer of physician office buildings and clinics, ambulatory care and surgery centers, cardiac and cancer centers, imaging centers, fitness and women’s centers and laboratories. Landmark Facilities provides all the professional services, work product and deliverables that are required to design, develop and construct the complete range of outpatient buildings -- on a guaranteed-price, full-service basis.
Landmark Facilities is the asset and property manager of all the outpatient buildings that are under the ownership of the Landmark Healthcare Properties Fund LLC.
About Physicians Realty Trust
Physicians Realty Trust (docreit.com) is a self-managed healthcare real estate company recently organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems.
They invest in real estate that is integral to providing high quality healthcare services. Their properties typically are on a campus with a hospital or other healthcare facilities or strategically located and affiliated with a hospital or other healthcare facilities.
About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market, providing more than $10.5 billion in financing across more than 240 transactions in 2014. Of these, over $1 billion were committed in the medical office building and the medical properties sector across more than 60 transactions.
Customers across 45 healthcare sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices rely on HFS to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth industry knowledge and expertise, the HFS team of professionals creates financial solutions tailored to meet the individual needs of its customers.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.
GE (ge.com) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world.