Cypress West Partners and TPG Angelo Gordon are expanding their health-care real estate holdings through a programmatic joint venture aimed at acquiring as much as $300 million in medical office assets across the Sun Belt over the next two years. The focus will be on acquiring medical office buildings in strategic, high-growth Sun Belt markets that provide the opportunity to generate core-plus and value-add returns through leasing, repositioning and redevelopment. The first acquisition was completed in March. The joint venture purchased an 85,000-square-foot medical office building at 9377 E. Bell Road in Scottsdale, Ariz. Healthpeak Properties sold the asset for $21.3 million, according to CommercialEdge data.
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Source: https://www.commercialsearch.com/news/cypress-west-tpg-angelo-gordon-form-300m-jv/