SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged $19.9 million in financing on behalf of Albany Road Real Estate Partners for the acquisition of Edwards Professional Park I & II in Scottsdale. Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets team led the assignment representing Albany Road, a Boston-based private equity real estate investment firm, in securing financing through a regional bank.
Located at 10752 N. 89th Place and 8952 E. Desert Cove Ave., Edwards Professional Park I & II features 91,469 square feet spread across two buildings. At the time of financing, the buildings were 91 percent leased to 47 medical and healthcare-related tenants. Approximately 98.7 percent of the occupied space is dedicated to healthcare uses, including dentistry, orthopedics, gastroenterology, dermatology, behavioral health, physical medicine, infusion therapy and aesthetic medicine practice.