PHOENIX—Cypress West Partners, a Southern California-based healthcare investment, leasing and property management firm, has acquired two high-profile medical office buildings in Scottsdale in a joint venture with MedProperties Holdings LLC, a national, healthcare-focused real estate private equity firm headquartered in Dallas.

The two acquisitions include: Scottsdale at Mescal, a 48,457-square-foot courtyard garden-style MOB complex, built in 1985, comprised of six buildings. The complex, located 10900 N. Scottsdale Rd., is anchored by Honor Health (formerly, Scottsdale Health); and Shea Corporate Medical Plaza, a two-story, 23,081-square-foot MOB, built in 1991, which houses a variety of medical and dental practices. Located at 7032-7054 E. Cochise Rd., the facility features covered parking, courtyards and fountains.

Based on a 75.5% percent occupancy rate of the properties, the two firms recognized substantial upside in the acquisition.