LA MOB Lands $20M Refi

Wilshire Robertson Plaza

Amir Development has received a $20 million in refinancing for Wilshire Robertson Plaza, a 126,567-square-foot medical office building in Los Angeles. Senior Vice President Ory Schwartz of Northmarq’s Los Angeles team arranged the transaction.

According to CommercialEdge data, the property was previously subject to an $18 million loan in 2013, originated by Jackson National Life Insurance Company.

The property was originally completed in 1991 and was designed by Arquitectonica. The three-story Class A medical facility offers 20,000 and 40,000 square-foot floorplates, three passenger elevators, controlled access and includes 418 parking spaces. Since 2020, the building is marketed only for medical tenants, mentioned Schwartz in prepared remarks. Beverly Tower Wilshire Advanced Imaging Center is one of its tenants.

Wilshire Robertson Plaza is located at 8750 Wilshire Blvd., in Beverly Hills, just 11 miles from downtown Los Angeles and has direct access to the Santa Monica Freeway via Robertson Boulevard. Cedars-Sinai Medical Center is less than one mile away. Other medical facilities in the surrounding area include Mink Radiologic Imaging, Premier Pediatrics Beverly Hills, and Waldman Orthodontics, among others.

CommercialEdge data shows that the urban area of Los Angeles has an inventory of 273 medical office properties, of which 37 properties are Class A buildings, representing 3.9 million square feet of the total inventory.

A JLL report shows that the medical office sector is still thriving, despite the economic hardships in other sectors, with 13 transactions in the second quarter of this year, totaling $19.2 billion in annual revenue.