CBRE has arranged the sale and financing of the Pacific Professional Building, a five-story, 132,000-square-foot medical office in the Pacific Heights district of San Francisco. The firm represented the buyer, Pan-Med Enterprises, in purchasing the underlying land out of a ground lease, and then secured a $44.5 million loan to finance the acquisition of the fee simple interest and repayment of the existing leasehold loan.
“The medical office sector has remained robust despite market headwinds, fueled by the ongoing need for state-of-the-art medical facilities and delivery of essential services. The Pacific Professional is well-positioned for growth, given its proximity to world-class medical and life science institutions,” said CBRE’s Mike Walker, part of the team that arranged the transaction which included Brad Zampa, Mike Taquino, Kyle Kovac, Alec Haley and Giancarlo Sangiacomo.
The Pacific Professional Building is part of the California Pacific Medical Center’s Pacific Heights campus on Webster Street. The building is 97% leased and includes a radiology lab, testing labs, pharmacy and health resource center.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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