Forman Capital’s Ben Jacobson, Scott Mehlman and Ty Regnier originated the loan on behalf of the borrower/sponsor. Jay Miller, Spencer Miller and Noah Rothman of BayBridge Real Estate Capital brokered the financing. The transaction closed on August 29.
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The firm’s Adam Docktor is overseeing leasing at the business park.
Wayne Ramoski, Mark Gilbert and Miguel Alcivar of Cushman & Wakefield represented the selling partnership in the transaction.
Jaime Sturgis brokered all three deals, which have a combined sale price of $8.6 million.
The medical center was 100% occupied at the time of the sale.
Currently, the property is 92% leased to a diverse roster of 48 tenants.
The office building is an eight-story, 17,450-square-foot building situated on a 0.34-acre land parcel.
The tower, which has already achieved a 75% pre-sale rate, is slated for completion in 2025. Condo units range in size from 900 to 4,750 square feet, with prices from $675,000 to $4.4 million.
JLL represented the seller, Continental Realty Corporation. An affiliate of JBL Asset Management acquired the asset.