Daily News: June 24, 2013

GE Capital Provides $89MM in Financing to MB Real Estate

GE Capital, Healthcare Financial Services said it has provided $89 million in senior secured financing to MB Real Estate. The financing will be used to support the purchase of a medical office building in Atlanta, GA.

“GE Capital has proven to be a reliable debt provider to us on several transactions,” said Peter Westmeyer, executive with MB Real Estate. “Their flexible approach, industry expertise and certainty of close, with respect to financing, were critical in our ability to acquire this very strong asset.”

“Our team is focused solely on meeting the needs of borrowers in the healthcare real estate space,” said Jim Seymour, senior managing director of healthcare real estate at GE Capital, Healthcare Financial Services. “With over 60 senior secured medical office transactions since 2011, we are an active lender and continue to seek opportunities to help borrowers execute on their acquisition objectives.”

Headquartered in Chicago, IL, MB Real Estate is a full-service real estate organization that provides multifaceted expertise in asset and facilities management, leasing services, project and construction management, tenant representation and investment services to private and public organizations, private investors and non-profit agencies.

The eight-story medical office building acquired through this transaction was recognized by Building Owners and Managers Association International (BOMA) as the 2012 Best International Medical Office Building of the Year. It serves as the headquarters for Piedmont Healthcare, a five hospital healthcare system that has been serving Georgia for more than 100 years.