Cypress West Partners and TPG Angelo Gordon have successfully completed a joint venture to secure financing for their medical office building portfolio and future acquisitions. The financing was provided by Capital One Bank, N.A. and includes funding for the existing portfolio as well as additional capacity for future purchases. Specific financial details were not disclosed.
The portfolio consists of six top-quality medical outpatient facilities totaling 269,000 square feet in prime locations along the West Coast, including Orange County, San Diego, and Phoenix. These properties include both assets previously owned by Cypress West Partners as well as those acquired from third parties through the joint venture’s targeted focus on core-plus and value-add returns in Sunbelt properties.
Newmark Healthcare Capital Markets served as advisor to Cypress West Partners during this transaction and arranged the credit facility on behalf of the joint venture.
“We are thrilled to reach this important milestone in our partnership with TPG Angelo Gordon,” said Chris Cumella, CEO & Co-Founder of Cypress West Partners. “We are grateful for Newmark’s dedication to securing this crucial financing alongside our partners at Capital One.”
