Highland Realty Capital arranged a $47,500,000 fixed rate permanent loan to refinance construction debt on a newly constructed 90,000 sf class A medical office building in Tarzana, California. The property is ideally situated across the street from Providence Cedars-Sinai Medical Center, which is currently undergoing a $624 million state-of-the-art modernization and expansion that will transform the hospital into a world-class medical campus when complete in 2023. Cedars-Sinai and Providence are both tenants in the subject property. The project is owned by a family office. The 11-year fixed rate financing was provided by a blue chip insurance company, with proceeds being used to take out the existing construction loan, fund TI’s and leasing commissions, and return some equity to the developer.