A partnership between Cypress West Partners and TPG Angelo Gordon has successfully closed a financing deal for a medical office building portfolio, with the help of Capital One Bank, N.A. The financing includes funds for both the current portfolio and future acquisitions. Specific financial details were not disclosed.
The six properties in this Class A medical outpatient facility portfolio cover 269,000 square feet and are located in major cities on the West Coast such as Orange County, San Diego, and Phoenix. These assets include both previously owned properties by Cypress West as well as those acquired from third parties. The joint venture is focused on achieving core-plus and value-add returns through investments in Sunbelt properties.
Newmark Healthcare Capital Markets acted as an advisor to Cypress West Partners during this process and was responsible for arranging the credit facility on behalf of the joint venture.
Chris Cumella, CEO and co-founder of Cypress West expressed his appreciation for Newmark’s assistance along with that of Capital One: “This successful closing represents an important milestone in our strategic partnership with TPG Angelo Gordon.”
