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June 18, 2024
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Turner Impact Capital Secures Equity Placement for Phoenix Healthcare Facility Acquisition


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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