Capital One said Wednesday that it provided a term loan for the acquisition of DePaul Medical Plaza, a 104,000-square-foot, Class A office building on the campus of Bon Secours DePaul Medical Center in Norfolk.
A joint venture including Brackett Flagship Properties, based in Charlotte, N.C., and USAA Real Estate Co., based in San Antonio, purchased the property for an undisclosed price. According to Capital One, the loan commitment includes a component for tenant improvements and leasing commissions.
“We structured this deal to be flexible as the property continues to lease space,” Erik Tellefson, managing director of Capital One Healthcare, said in a statement.
