The interest-only financing carries a two-year initial term with three one-year extension options and is secured by two buildings on W. Third St.
The RMR Group Inc. has arranged a $272.1 million interest-only mortgage secured by two Los Angeles medical office buildings anchored by Cedars-Sinai Medical Center. Morgan Stanley and BNP Paribas provided the financing, Connect CRE first reported.
The loan carries a two-year initial term with three one-year extension options, according to Connect CRE. It is secured by 8631 and 8635 W. Third St.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections
The BX 2021-21M trust's collateral is down to six properties and 1,842 units, and Blackstone has three months to sell them.
The five-year package includes a $527.1 million single-asset, single-borrower loan led by Morgan Stanley and Bank of America and a separate $191.1 million balance-sheet loan from Bank of America.
The five-year floating-rate package includes a $527.1 million SASB led left by Morgan Stanley and right by Bank of America, plus a $191.1 million balance-sheet loan from Bank of America.
Bridge Investment Group and Pacific Development borrowed the bridge loan, which funded an interest reserve and returned equity.
Bridge, Declaration Partners and Avery Hall are the sponsors; coupon and spread were not disclosed.
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