SVN | ANGELIC CLOSES ON MULTI-STATE VA OUTPATIENT CLINIC PROPERTY PACKAGE
Boston, April 27, 2020 (GLOBE NEWSWIRE) -- SVN | Angelic, one of the SVN brands premier commercial real estate brokerage firms, has closed on a $175,000,000 multi-state property financing of five VA Outpatient Clinics totaling 303,334 SF within Texas, Florida, Michigan and Missouri.
Boston, April 27, 2020 (GLOBE NEWSWIRE) -- SVN | Angelic, one of the SVN® brand’s premier commercial real estate brokerage firms, has closed on a $175,000,000 multi-state property financing of five VA Outpatient Clinics totaling 303,334 SF within Texas, Florida, Michigan and Missouri. The financing funds all costs of construction and remains in place as a long-term permanent debt upon completion of the buildings.
Gabriel Silverstein and Louis D'Lando of SVN | Angelic, structured and placed the financing on behalf of Birmingham, Alabama based Johnson Development. Silverstein is Managing Director of SVN | Angelic and SVN’s national Capital Markets Chair, D’Lando, is an AVP and SVN | Angelic's Director of Business Development. Johnson is one of the most active developers of VA properties nationally, and a top 20 national healthcare developer for over 20 years. Johnson is developing these facilities under long term leases with the VA (the Department of Veteran's Affairs) of the federal government, to provide healthcare to American veterans. The to-be-constructed facilities will be located in Tyler TX, Gainesville FL (two facilities), Canton (Ann Arbor) MI, and Cape Girardeau MO. LS Black will be the contractor for the Michigan property and BL Harbert will be the contractor on the other four, with construction timelines that range from 16 to 22 months.
“The SVN | Angelic team has been part of our developer's process for three years or more in pricing and bidding for these deals. 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,” said Silverstein. He continued “That is all the more meaningful knowing that these five facilities will serve the healthcare needs of our country's veterans, who have given so much for the freedoms we all enjoy in the US.”
About SVN | Angelic:
SVN | Angelic is an independently owned and operated SVN® office in Austin Texas that provides national investment real estate capital markets services to developers and corporations, particularly sales and financings of commercial real estate. Headquartered in Texas, with team members in multiple locations in the US, SVN | Angelic provides market knowledge and execution in collaboration with over 1,600 advisors in more than 200 offices across the US, backed by the strength of the SVN® global platform. To learn more visit www.SVNAngelic.com. All SVN® offices are independently owned and operated.
About Johnson Development:
Delivering Innovative solutions for healthcare real estate, Johnson provides a full menu of facility planning, development, and management services to the healthcare industry. To learn more visit www.johnsonhre.com.
About SVN:
The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues, and our communities. The SVN brand is comprised of over 1,600 advisors and staff in more than 200 offices across the globe in six countries. Our brand pillars represent the transparency, innovation, and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues, and communities. For more information, visit www.svn.com.
All SVN offices are independently owned and operated. To learn more about becoming an SVN commercial real estate business owner, visit http://www.svn.com/franchising-opportunities/
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