SVN | Angelic has closed on a $175-million multi-state property financing of five Veterans Affairs outpatient clinics totaling 303,334 square feet within Texas, Florida, Michigan and Missouri. The financing funds all construction costs and remains in place as long-term permanent debt upon completion.
Gabriel Silverstein and Louis D’Lando of Austin-based SVN | Angelic structured and placed the financing on behalf of Birmingham, AL-based Johnson Development. Johnson is developing these facilities under long-term leases with the U.S. Department of Veterans Affairs. They’ll be located in Tyler, TX; Gainesville, FL; Canton, MI; and Cape Girardeau, MO.
“The SVN | Angelic team has been part of our developer’s process for three years or more in pricing and bidding for these deals,” said Silverstein. “It was a great team effort to win the assignments in the bidding, and a pleasure to continue to do repeat business with a loyal, and exceptionally good developer.”
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.
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