NEWTON, Mass.--(EON: Enhanced Online News)--The Hartford office of Tremont Realty Capital, a division of The RMR Group LLC, today announced that it has structured refinancing capital for Jacksonville Medical Plaza, a 132,488 square foot multi-tenant Medical Office Complex in Jacksonville, FL.
The non-recourse, CMBS financing represented approximately 75% of appraised value of the property and has a 10-year fixed annual interest rate of 5.26% and a 30-year amortization schedule.
According to Stephen Henderson, Director of Capital Markets for Tremont, “Through our extensive network, we identified a capital provider that understood Jacksonville Medical Plaza’s situation – with its complex borrower structure and existing ground lease – and structured a long-term loan with a long fixed interest rate period to refinance the property’s maturing bank debt. This financing transaction underscores Tremont Realty Capital’s position at the nexus between borrowers and lenders, providing well executed and timely solutions across a range of property types, funding scenarios and geographies. Our team has the relationships and the industry experience to serve as a trusted resource for both borrowers seeking capital, and the sponsors that can provide it.”
Tremont Realty Capital is a division of The RMR Group LLC. Tremont Realty Capital includes an operating business that specializes in commercial real estate (CRE) finance, principally raising debt and equity capital for owners of CRE, and an SEC registered investment advisor, Tremont Realty Advisors LLC, which is a wholly owned subsidiary of The RMR Group LLC and which principally provides investment advice concerning real estate debt investments, including mortgage debts and mezzanine financings for real estate businesses. Since its founding in 2000, Tremont has completed over $4.6 billion worth of CRE transactions and currently has approximately $160 million of real estate loans under management.
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies. As of September 30, 2016, The RMR Group LLC had approximately $26.9 billion of real estate assets under management, including more than 1,400 properties, and employed over 450 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 52,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.