Ariel Property Advisors has arranged $21.7 million in financing for the acquisition of a five-building freestanding independent emergency room portfolio in Houston.
Financing was arranged by an Ariel Property Advisors team including Eli Weisblum, Director, Capital Services, and Paul McCormick, Senior Vice President, Investment Sales and Capital Services.
The 34,587-square-foot property consists of five freestanding emergency room buildings scattered across the Houston market. The 75-percent LTV financing was secured with an interest rate of 4.5 percent, a five-year term, no prepayment penalty and closed in 60 days.
