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California  + Finance  | 

Highland Realty Capital Arranges Permanent Loan on Tarzana MOB 

Renton, LLC has received a $47.5-million permanent loan to refinance the construction loan on Tarzana Medical Atrium, located at 5411 Etiwanda Ave. in Tarzana. The borrower was advised by El Segundo-based Highland Realty Capital. 

Brad Sevier, president of Highland Realty Capital, said the property—a three-story, 89,793-square-foot Class A medical office building—wasn’t stabilized when he began the assignment. “The property was 84% leased when we started marketing, but the two largest tenants had not yet taken occupancy,” he said. “The high quality of the building and the location next to the hospital helped us get lenders comfortable. We received a lot of competitive loan proposals and were able to lock in a 3.26% fixed rate before the big run-up in rates.” 

The property is situated across the street from Providence Cedars-Sinai Tarzana Medical Center, currently undergoing a modernization and expansion slated for completion in 2023. 

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Highland Realty Capital's Sevier

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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