**Cypress West Partners and TPG Angelo Gordon Acquire Del Mar Medical Park for $33.6 Million**
Cypress West Partners, in partnership with TPG Angelo Gordon, has acquired Del Mar Medical Park in Boca Raton, Florida. The two-building, 101,546-square-foot medical outpatient campus is currently 92.4% occupied and represents the joint venture’s 11th acquisition since its inception.
The property was sold by IP Capital Partners and The Ardent Companies for $33.6 million.
“The asset provides an immediate value-add potential through conversion of existing professional office suites to medical use, with an emphasis on attracting large tenants who would fit within the more traditional medical tenancy,” said Sam Clark of Cypress West Partners.
Originally developed in 1982 and 1986, Del Mar Medical Park has undergone a significant transformation into a healthcare-focused facility, supported by over $4 million in capital improvements completed between 2022 and 2024. The campus is now home to 50 tenants across 20 medical specialties, including OBGYN, internal medicine, pediatrics, dentistry, oncology, cosmetic surgery, and behavioral therapy.
