June 2, 2017
Rancho Santa Margarita, CA-based Cypress West Partners acquired Riverwalk Medical Plaza, a 54,923-square-foot campus-adjacent medical office building in Bakersfield, CA. The asset was purchased in a joint venture with Dallas-based MedProperties Holdings LLC.
Riverwalk Medical Plaza is a two-story building built in 2005 and located at 9450-9500 Stockdale Hwy. The property is 94% occupied with major tenants that include: Dignity Health, Quest Diagnostics, Children’s Hospital of Los Angeles (CHOLA), and GEM Physicians Medical Group.
This transaction marks Cypress West’s fifth acquisition with MedProperties. Capital One Healthcare Financial Solutions provided the debt for the transaction, as well as the joint venture’s previous four acquisitions.
This acquisition brings Cypress West’s total portfolio to more than 1.7 million square feet in three major markets in the Southwestern U.S.
For comments, questions or concerns, please contact Dennis Kaiser