Turner Impression Capital’s Healthcare Amenities 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 Providers supplied the mortgage, with a maturity date set for 2031, in accordance with San Diego County data. 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 information exhibits. Final month, Turner offered 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 neighborhood well being middle for Share Our Selves.
The proprietor will use the funds to transform each buildings into fashionable medical services.
Senior Managing Director John Chun and Director Matt DiCesare with JLL Capital Markets led the staff 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 affords 94 automobile parking areas. The proprietor will renovate and switch a piece of the constructing right into a neighborhood 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 concentrate on wellness, catering to the growing older inhabitants and pressing care providers.
Situated 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 ability. Different medical suppliers within the surrounding space embody Turullols Medical Heart, California Medical Harm & Rehabilitation Physicians and Adams Medical Clinic.
