Pacific Heights Medical Building Sells for $44.5M

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.

Photo courtesy of Digital Sky Aerial Imaging