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- June 1, 2024: Vol. 36, Number 6

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

by Andrea Zander

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 Sun Belt 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 Sun Belt 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 percent occupied by a diverse roster of healthcare tenants.

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