HFF arranges $8 million refinancing for Philadelphia medical office buildings

The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged an $8 million refinancing for Eastwick Wellness Center and Upper Darby Wellness Center, two medical office buildings in Philadelphia, Pennsylvania.

HFF director John Taylor and managing director Robert Delitsky (HFF New York) worked exclusively on behalf of Kimco Realty Corporation to secure fixed-rate financing through Firstrust Bank. Kimco Realty Corporation is a leading retail REIT specializing in the acquisitions, development and management of neighborhood and community shopping centers.

Completed in 1995, Eastwick Wellness Center is a 36,511-square-foot, two-story building that is fully leased. The property is situated on a 3.4-acre site at the intersection of Island Avenue and Turnstone Place, two miles north of Interstate 95 in the southwestern Philadelphia suburb of Eastwick.

Upper Darby Wellness Center is located in Upper Darby’s downtown at the intersection of Market and Kent Streets, five miles west of Center City Philadelphia. The five-story property has 48,936 square feet of commercial/medical office space.