|
|
4/04/25
|
A joint venture between Transwestern Investment Group (TIG) and its operating partner, RX Health & Science Trust (RXHST), has acquired Copper Point, a 93.3k sf medical outpatient facility in Gilbert, AZ. RXHST will continue to manage the asset, located at 3530 South Val Vista Dr, through final lease-up and stabilization.
“This acquisition, which was sourced off-market, is consistent with TIG’s allocation objective in niche sectors, particularly healthcare,” said Andy Norman, Director of Acquisitions at TIG. “The asset profile has a notable complement of credit tenants with term, roll-to-market leasing opportunities of existing tenancy and the lease-up of current vacancy, helping to limit risk and providing multiple avenues to add value.”
A multi-tenant property built in 2008, Copper Point is currently 87% leased to 13 tenants including City of Hope, Prosano Health (an affiliate of Blue Cross Blue Shield of Arizona), and Phoenix Children’s. The property is adjacent to Dignity Health’s Mercy Gilbert Medical Center, a 418-bed, full-service hospital strategically located at the intersection of South Val Vista Drive and Highway 202. Dignity is a member of Common Spirit Health, one of the largest non-profit health systems in the U.S.
Part of the East Valley submarket, Gilbert is the largest medical outpatient submarket in Phoenix, totaling 6.8 msf, or 25% of the medical outpatient space in the overall Phoenix market.
First Citizens Bank provided debt financing for the acquisition. The transaction price was not given out.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
