HFF announces $8 million in acquisition financing for Redhawk Medical Center, a 32,471-square-foot, multi-tenant medical office in the Southern California community of Temecula.
The HFF team worked on behalf of the borrower, Cypress West Partners, LLC (CWP), to place the seven-year, non-recourse, floating-rate loan with a commercial bank.
Redhawk Medical Center is situated on 2.5 acres at 44272 George Cushman Court in Temecula, which is in the Inland Empire office market and equidistant between San Diego and Orange County. The medical office is proximate to the 140-bed Temecula Valley Hospital, which opened in 2013 and offers a comprehensive range of services. The two-story building was completed in 2003 and is anchored by Vantage Oncology, which was recently acquired by the McKesson Corporation. The 95.1 percent-leased property is also home to a diverse range of tenants, including Pediatric Partners, California Imaging and Diagnosis, San Diego Fertility Center, New Point Wellness and Crescent Healthcare.
The HFF debt placement team representing the borrower included senior managing director Aldon Cole.
“HFF has continued to produce compelling debt terms for our healthcare assets,” said Chris Cumella, founder, and principal of CWP. “The team is in touch with the market and got us across the finish line. This acquisition represents a chance for CWP to increase its profile in the Southern California market.”
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
About Cypress West Partners, LLC
Cypress West Partners, LLC, was formed through strategic affiliations with institutional investors, high-net-worth individuals and family offices with the purpose to acquire, develop and manage healthcare properties across the Western U.S. At Cypress West, the team is focused on understanding and implementing on all aspects of what makes a high-performing asset.
Cypress West is highly-experienced at working across the healthcare spectrum, from institutional owners to hospitals and individual doctors. The strength and legacy of its business model is in Cypress West’s method for successfully acquiring the right medical real estate assets backed by solid data analytics, followed by a strategic leasing and management plan to increase value at the property and investor levels. For more information, see www.cypresswestpartners.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
CA Lic. #01457351
HFF Senior Managing Director
HFF Digital Content/Public Relations Specialist
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE