HealthCap Announces Latest Property Acquisition
Value-Add Medical Office Building in Arizona
DALLAS (July 26, 2019) – HealthCap Partners, LLC today announced its latest real estate acquisition. The national healthcare private equity and real estate investment firm has acquired a 23,000 square foot medical office building (MOB) in Tempe, Arizona. The single-story off-campus MOB is located at 1950 East Southern Avenue on a high-visibility 2.3 acre hard corner fronting a major east-west thoroughfare. The multi-tenant property was approximately 80% leased at the date of closing and anchored by several leading regional and national healthcare tenants providing a mix of outpatient services. Post-closing, the property will be managed and leased by HealthCap’s Phoenix office, including plans to undertake significant renovations at the property. Republic Bank of Arizona provided financing for the acquisition.
HealthCap is a private equity firm specializing in creative growth capital and real estate solutions for the strategic needs of the healthcare industry. HealthCap assists its operating partners by providing growth capital, facilitating buy-outs and recapitalizations, and executing strategic healthcare real estate initiatives. Since 1996, HealthCap has sponsored more than $1.1 billion in healthcare sector investments. For more information, please visit healthcap.com