|

RANCHO SANTA MARGARITA, CA—Good operators will understand their market as well as the health systems and providers that deliver the care in order to achieve the right synergies in medical-office buildings, Cypress West Partners partner Chris Cumella tells GlobeSt.com. The firm recently acquired Riverwalk Medical Plaza, a 54,923-square-foot campus-adjacent medical-office building at 9450-9500 Stockdale Hwy. in Bakersfield, CA.

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. This transaction marks the team's fifth joint-venture acquisition. Capital One Healthcare Financial Solutions provided the debt for the transaction, as well as the joint venture's previous four acquisitions.

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 and GEM Physicians Medical Group. The property provides close proximity to the Dignity Health Mercy Hospital Southwest of Bakersfield and offers a rare chance to be within walking distance of the Mercy campus. Bryan McKenney, director at Cypress West, will handle property leasing.