Joint Venture Purchases Simon Medical Plaza in Phoenix for $14.8M
PHOENIX — A joint venture between Cypress West Partners and an institutional real estate advisor has acquired Simon Medical Plaza, a fully leased medical office building in Phoenix.
Completed in 2020, Simon Medical Plaza is a two-story facility that a variety of healthcare tenants occupy. Services available at the property include pediatric healthcare, imaging services, podiatry, dentistry, physical therapy, ophthalmology, chiropractor services, counseling and elder services.
Aldon Cole and Aiden Hayes of JLL Capital Markets secured a $7.6 million five-year, floating-rate loan through CIT, a division of First Citizens Bank, for the acquisition.