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Investor Group Acquires 91K-SF Scottsdale MOB
A joint venture between Cypress West Partners and TPG Angelo Gordon acquired two medical outpatient facilities totaling 132,283 square feet in Scottsdale, Ariz., and Chino Hills, Calif. JLL represented the sellers.
One of the properties that traded is Pima Medical Pavilion, a 91,212-square-foot medical office building in Scottsdale, Ariz. Healthcare Realty Trust sold the asset in a deal brokered by JLL.
Bloom Reproductive Institute, Scottsdale OBGYN Specialists and SurgCenter/USPI anchor the medical office building. The property was 92 percent leased at the time of the current deal.
Completed in 2008 at 8415 N. Pima Road, the two-story building is about 6 miles from Scottsdale’s city center.
In 2024, Cypress West and TPG Angelo Gordon announced a joint venture seeking to acquire up to $300 million in medical outpatient assets across strategic, high-growth Sunbelt and West Coast markets. The joint venture targets core-plus and value-add returns through leasing, repositioning, and redevelopment.
- ◦Sale/Acquisition
