Cypress West and TPG Angelo Gordon Joint Venture Buys MOB in Salt Lake City MSA
Cypress West Partners and TPG Angelo Gordon announced that they have acquired a medical outpatient building (MOB) in Bountiful, Utah. This transaction is part of a two-year programmatic joint venture announced earlier in 2024 between Cypress West and TPG Angelo Gordon. The joint venture was established to acquire up to $300 million in medical office assets across strategic, high-growth West Coast and Sunbelt markets. It targets core-plus and value-add returns through leasing, repositioning and redevelopment. The property is a 112,192-square-foot MOB. The multi-tenant MOB, located four miles north of Salt Lake City, is anchored by Mountain West Surgical Center, a multi-specialty ambulatory... Read More »
Berkadia Advises Montecito Medical on Texas MOB Portfolio Acquisition
Montecito Medical Real Estate has acquired an 85,292-square-foot medical outpatient portfolio in Texas. The portfolio consists of two purpose-built, Class A medical outpatient buildings (MOBs) in the Houston and Dallas MSAs. Berkadia’s Medical & Life Sciences platform announced the closing of the sale on December 5, 2024. One of the MOBs, called the Memorial Hermann Sports Park, totals 53,165 square feet and is located on the campus of Memorial Hermann Katy Hospital in Katy, Texas. The two-story medical property was built in 2019 and is 100% leased by Memorial Hermann and Athlete Training & Health. The other MOB, called the Allen Sports Park, is 32,127 square feet and located in... Read More »
Montecito Medical Buys MOB in Jacksonville, Florida
Montecito Medical Real Estate, a leading buyer of medical outpatient properties nationwide, announced the purchase of a medical outpatient building (MOB) in Jacksonville, Florida. The transaction was announced on December 3, 2024. The 10,475-square-foot specialty MOB is fully occupied by Terk Oncology, a prominent specialty provider. The building features a state-of-the-art linear accelerator vault, enabling precise radiation therapy and enhancing access to advanced treatment for local patients. The property is situated across the street from a major hospital campus. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed... Read More »
Montecito Medical Buys Bloomington, Illinois MOB
Montecito Medical Real Estate is acquiring a 14,649-square-foot medical outpatient building (MOB) located in Bloomington, Illinois. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $5 billion in medical real estate across the United States. Cross Keys Capital, a leading independent investment banking firm providing M&A advisory services to physician group practices and healthcare services companies, served as the exclusive financial advisor to the seller, MC Support Property, LLC, in the sale of the MOB. Cross Keys Capital’s deal team consisted of Bill Britton and Roy Barnes. MC... Read More »
McLaren Health Care Acquires Park Medical Centers
On November 25, McLaren Health Care announced that it acquired Park Medical Centers for an undisclosed price. Park Medical Centers is a group of 10 primary care health clinics heavily concentrated in communities throughout Wayne, Oakland and Macomb counties in Michigan. According to the press release, there are 21 providers on staff that serve 36,000 patients. McLaren Health Care is a fully integrated health network comprising 15 hospitals in Michigan and Ohio, a 490-member employed primary and specialty care physician network, outpatient centers, home health and hospice services and medical plans covering more than 588,000 lives in Michigan and Indiana. “Park... Read More »Schedule a demo
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