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6/05/17
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Cypress West Partners has acquired Riverwalk Medical Plaza, a 54.9k sf, campus-adjacent medical office building in Bakersfield. The Southern California-based healthcare investment, leasing and property management firm acquired the property in a joint venture with MedProperties Holdings LLC, a national, healthcare-focused real estate private equity firm headquartered in Dallas.
Located at 9450-9500 Stockdale Hwy, Riverwalk Medical Plaza is a two-story medical office building built in 2005. 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. Riverwalk Medical Plaza provides unrivaled proximity to the Dignity Health Mercy Hospital Southwest of Bakersfield and offers a rare chance to be within walking distance of the Mercy Campus.
Dignity Health Mercy Southwest of Bakersfield is a full-service, comprehensive health care facility, dedicated to providing the finest medical care for the community. Dignity Health is made up of more than 60,000 caregivers and staff who deliver excellent care to diverse communities in 21 states. Headquartered in San Francisco, Dignity Health is the fifth largest health system in the nation and the largest hospital provider in California.
This transaction marks Cypress West’s fifth acquisition with MedProperties. Capital One Healthcare Financial Solutions provided the debt for this transaction, as well as the joint venture’s previous four acquisitions. Cypress West’s Bryan McKenney will handle property leasing.
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