RMR Group Facilitates $272 Million Refinancing for Los Angeles Medical Office Building

MT Newswires Live10-12

RMR Group (RMR) said Monday that it has facilitated $272.1 million in mortgage financing for a joint venture it manages, secured by two medical office buildings in Los Angeles.

The company said the interest-only loan, provided by Morgan Stanley (MS) and BNP Paribas, has a two-year initial term, carries an interest rate of one-month Term SOFR plus 180 basis points, and includes three one-year extension options.

Proceeds will repay about $267 million in existing mortgage debt due in February 2027 and cover closing costs, the company said.

The company said the properties at 8631 and 8635 West Third Street total about 330,000 square feet across two 11-story buildings and include two parking garages.

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