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5/10/21
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Waltz Construction and New Freedom have obtained and an equity placement from social impact investment firm Turner Impact Capital’s Healthcare Facilities Fund for the acquisition of a $17.6 mil behavioral health campus at 2532 W. Peoria Ave in Phoenix.
The property is in the heart of Central Phoenix where a 248-room, 143k sf hotel-resort was converted into a behavioral health campus. Turner Impact Capital is also serving as construction manager for the conversion, which will create an unparalleled treatment environment with the intent to create a client experience of self-worth that all humans deserve.
Cushman & Wakefield’s Gino Lollio, Scott Niedergang and Travis Ives worked with the New Freedom and Waltz Construction joint venture to source a real estate investor to own the real estate and lease it to New Freedom long-term.
The Turner Healthcare Facilities Fund is an innovative social impact fund dedicated to developing high-quality medical facilities for proven healthcare providers in communities with underserved patient populations. In partnership with Waltz Construction, New Freedom has launched a state-of-the-art behavioral health campus model of treatment programs in collaboration with Gold Canyon Heart & Home (GCHH), an Arizona-based 501(c)(3) nonprofit organization with a 17-year track record of hands-on recovery and reentry programming.
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