Highland Realty Capital secured a $47,000,000 fixed rate permanent loan to refinance a 61,000 sf medical office building in Santa Monica, California. The building is well located near a hospital campus, and has consistently achieved high occupancy with strong credit tenants. The Borrower developed the property in 1988 and intends to maintain long term ownership. The loan was provided by a blue chip insurance company that provided a competitive 10-year fixed rate, with full term IO. Loan proceeds were used to take out the existing debt and return equity to the Borrower.