Hoag Health Center deal reflects health care construction push

San Diego-based healthcare developer Pacific Medical Buildings secured a $41m construction-to-permanent loan for the development of The Hoag Health Center in Irvine, California, which is reflective of a booming health care industry buoyed by new construction and aggressive lending. The 12-year, fixed-rate loan on the Hoag center, provided by an undisclosed correspondent life insurance company, is interest-only during the two-year construction period.