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Turner Impression Capital’s Healthcare Services Fund has obtained $29.1 million in financing for Chula Vista Medical Arts I, a 64,231-square-foot medical workplace constructing in Chula Vista, Calif. Siemens Monetary Companies offered the mortgage, with a maturity date set for 2031, based on San Diego County information. JLL represented the borrower.
Turner Impression Capital has owned the Chula Vista property since April 2024. The corporate acquired the asset for $18 million from Welltower, CommercialEdge knowledge reveals. Final month, Turner bought Chula Vista Medical Arts II to the Cypress West Companions and TPG Angelo Gordon three way partnership, for $11.6 million.
In March, Turner additionally secured a $6.7 million, three-year mortgage for 1650 Adams Ave. in Costa Mesa, Calif. The borrower will retrofit the 6,700-square-foot asset right into a group well being middle for Share Our Selves.
The proprietor will use the funds to transform each buildings into trendy medical amenities.
Senior Managing Director John Chun and Director Matt DiCesare with JLL Capital Markets led the workforce representing the borrower in each transactions.
Facility prepared for renovation
The five-story Chula Vista constructing got here on-line in 1973 and underwent beauty renovation in 2013. The low-rise, Class B facility options two passenger elevators, managed entry and presents 94 automotive parking areas. The proprietor will renovate and switch a bit of the constructing right into a group well being middle for San Ysidro Well being.
The tenant roster contains Quest Diagnostics, Colton Well being and Mora Household Dental, amongst others. Present developments in medical workplace constructing occupancy present a deal with wellness, catering to the getting old inhabitants and pressing care providers.
Positioned at 480 4th Ave., the property is adjoining to the Scripps Mercy Hospital Chula Vista and has entry to interstates 5 and 805. Downtown San Diego is a few 10 miles northwest of the power. Different medical suppliers within the surrounding space embrace Turullols Medical Heart, California Medical Harm & Rehabilitation Physicians and Adams Medical Clinic.
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