Capital One closes $28m loan for acquisition of portfolio
Rockleigh, NJ — Capital One has closed a $28 million loan to support the acquisition of a medical office building portfolio consisting of a 139,000 s/f laboratory building and a 68,000 s/f office building located in Rockleigh. The purchaser, Charter Realty Group. Vice president Jim McMahon of Capital One Healthcare originated the transactions.The buildings are leased to Spectra Laboratories. The site serves as Spectra’s mission-critical testing facility for the eastern half of the United States.
“We are pleased to support Charter in the acquisition of this desirable portfolio of recently modernized testing and laboratory facilities in a prime Bergen County location,” said Erik Tellefson, Capital One Healthcare managing director.
“We benefited greatly from Capital One Healthcare’s knowledge of the medical office building market and its expertise in structuring the financing for this acquisition,” said Arnold Porath, Charter’s founder and CEO. “The Spectra buildings will make an outstanding addition to the Charter portfolio.”Capital One Healthcare is a provider of financial services to the industry with over $11 billion in total outstanding balances. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. nWith in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.