The partnership acquired its first medical office building — an 85,000-square-foot facility in Scottsdale, Ariz., for $21.3 million — in March.
The joint venture was seeded with the recapitalization of a four-asset portfolio of medical properties in Arizona and California owned by Cypress West Partners that totals about 200,000 square feet and is 97% occupied.
The Cypress West portfolio currently includes close to 2 million square feet of medical office properties, with more than 250,000 square feet currently in various stages of development.
TPG Angelo Gordon, a recent joint venture between Angelo Gordon and Sendero Capital, just made its fifth medical office acquisition for $8.1 million.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.