Cypress West Partners, TPG Angelo Gordon form programmatic JV focused on medical office buildings in Sunbelt markets

CBRE Investment Banking has arranged a programmatic joint venture between Cypress West Partners and TPG Angelo Gordon, which has the ability to acquire up to $300 million in medical office assets across the Sunbelt region over the next two years.

The joint venture between Cypress West and TPG Angelo Gordon will focus on the acquisition of medical office assets in strategic, high-growth Sunbelt markets that provide the opportunity to generate core-plus and value-added returns through leasing, repositioning, and redevelopment.

The joint venture has already completed its first acquisition – an 85,000 square-foot medical office facility at 9377 E. Bell Road in Scottsdale, Ariz., – and will also be seeded by the recapitalization of a four-asset portfolio that totals approximately 200,000 square-feet across Arizona and California and is 97% occupied by a diverse roster of healthcare tenants.

“This is an exciting opportunity to partner with a like-minded team and