AW Property Company has secured $55.2 million in financing for a nine-property, medical portfolio totaling 297,500 square feet in North Carolina.
Working on behalf of AW, JLL placed the 10-year, fixed-rate loan with a life company. Loan proceeds were used to acquire the portfolio.
With an average vintage of 2006, the portfolio is 99 percent leased to leading healthcare systems and dominant independent physician practices, with credit tenants representing 73 percent of in-place income. Prominent tenants include Cone Health, Duke Health and UNC Health. All of the properties are located on or adjacent to hospital campuses in the Burlington, Durham and Greensboro markets.
The portfolio consists of Cone Health Neurology Clinic in Greensboro; 1126, 1130, 1132 and 2001 N. Church St. in Greensboro; Wesley Long MOB in Greensboro; Alamance Eye Center in Burlington; UNC Family Medicine Center in Durham; and Duke Medical Center in Durham.
