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December 10, 2023
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Cypress West Partners Venture Buys 32k sf Phoenix Area Medical Office Buy


In a recent Phoenix area medical office buy, a joint venture between Cypress West Partners and an institutional real estate advisor acquired Simon Medical Plaza, a new, 32k sf building in Laveen, AZ. The purchased was financed with an acquisition loan of $7.58 mil.

Built in 2020, the two-story facility is located at 7205 S 51st Ave, at Baseline Rd, adjacent to Dignity Health Arizona General Hospital. The property is fully leased to a variety of healthcare tenants. Services available at the property include pediatric healthcare, imaging services, podiatry, dentistry, physical therapy, ophthalmology, chiropractor services, counseling and elder services.

Simon Medical Plaza is located in the affluent Phoenix community of Laveen Village, which boasts a population of more than 125,000 residents. In addition, Simon Medical Plaza benefits from a variety of nearby new mixed-use and multi-housing developments, including Laveen Spectrum and the Sanctuary on 51st.

Aldon Cole, Aiden Hayes and Carl Beardsley with JLL Capital Markets arranged the five-year, floating-rate loan through CIT, a division of First Citizens Bank.

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