RevOZ Capital has formed a partnership with Sudweeks Development and Investment Co. to develop an 11,325-square-foot pre-leased, build-to-suit medical office building situated on nearly two acres in San Bernardino, Calif.
The building is 100 percent leased to the County of San Bernardino (S&P Rated AA+) for 15 years. The single-story facility will house San Bernardino County’s Children’s Department of Behavioral Health (DBH).
“This is an example of how underserved communities can leverage the opportunity zone program to attract investors and provide positive community benefits. While we believe this is a solid long-term investment, it also serves an important role in providing critical services to families in need within the San Bernardino community,” said Alex Bhathal, founder of RevOZ Capital.
SDIC has developed more than $50 million of similar projects in Southern California’s Inland Empire since 2018.
“This is another example of how P3 partnerships can bring mutually beneficial healthcare projects to the local community to serve the public good. We are pleased to be partnering with RevOZ Capital to bring this project to fruition,” said Brandon Sudweeks, managing member of SDIC.
This news follows the recent opening of RevOZ Capital’s first opportunity zone investment, a historic hotel located in Redmond, Ore. SCP Redmond is now open for business and is one of the first West Coast opportunity zone projects completed under the new program.
