Cushman & Wakefield has arranged an acquisition loan totaling $19.9 million for Edwards Professional Park I & II, a medical office property in Scottsdale. The financing supports Albany Road’s purchase of the two-building complex, with the debt placed through an undisclosed regional bank. The transaction was led by Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets team, which focuses on capital solutions for healthcare-related real estate.
Edwards Professional Park I & II is located at 10752 N. 89th Place and 8952 E. Desert Cove Ave. in Scottsdale and comprises a combined 91,469 square feet. The project is organized across two buildings and is positioned as a medical and healthcare-oriented professional park serving a broad mix of clinical practices.
At the time the loan closed, the property was reported to be 91% leased, with 47 medical and healthcare-related tenants in occupancy. The tenant roster spans a wide range of specialties, including dentistry, orthopedics, gastroenterology, dermatology, behavioral health, physical medicine, infusion therapy and aesthetic medicine. Approximately 98.7% of the occupied space is dedicated to healthcare uses, underscoring the asset’s positioning as a medical office destination rather than a general office complex.
The strong leasing profile and concentration of healthcare users likely informed lender interest, as the loan was secured with a regional bank despite the broader headwinds facing traditional office properties. The high percentage of space committed to medical and healthcare-related tenants suggests demand from providers seeking outpatient and clinic settings in established suburban locations.
Albany Road, the borrowing entity on this transaction, has been an active investor since its formation in 2012. According to the firm, it has completed 110 investments across a diverse mix of product types, geographic markets and tenant profiles. The Edwards Professional Park I & II acquisition adds a Scottsdale medical office asset to that portfolio, aligning with Albany Road’s multi-market investment approach.
The financing assignment highlights ongoing activity in the medical office segment, where lenders and investors often differentiate between healthcare-focused assets and the broader office market. While specific loan terms beyond proceeds and lender type were not disclosed, the involvement of a regional bank and a specialized healthcare capital markets team points to continued capital availability for stabilized, specialty office properties anchored by medical users.
