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Med Office Daily - February 4, 2026 - Cypress West–TPG JV acquires two MOBs

Med Office Daily - February 4, 2026 - Cypress West–TPG JV acquires two MOBs

CREG Healthcare brokers $3.5M Wiles Eye Center sale-leaseback. Montecito Medical secures $65.9M MOB refi. Broward Health plans new MOBs, parking garage. Six new MOB deals.

Matt H & Maham Riaz
February 04, 2026

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NEWS ROUNDUP

ACQUISITION: A joint venture between Cypress West Partners and TPG Angelo Gordon acquires two MOBs in Arizona and California. The two medical outpatient buildings in Scottsdale, Arizona, and Chino Hills, California, total 132,283 SF. In Scottsdale, the venture purchased Pima Medical Pavilion, a two-story, 91,212 SF facility at 8415 North Pima Road. The property was acquired from Healthcare Realty Trust, with JLL representing the seller. The building is 92 percent leased. The JV also acquired a two-story, 41,071 SF medical outpatient building at 2140 Grand Avenue in Chino Hills. The seller was represented by CBRE. The multi-tenant property is 94 percent leased. Cypress West Partners is led by founders Chris Cumella and Jeff Johnson, with principals Eric Minor, Ed Hernandez, and Sam Clark overseeing the firm’s healthcare real estate platform.

ACQUISITION: CREG Healthcare represented the seller in the $3.5 million sale-leaseback of the Wiles Eye Center Building in St. Joseph, Missouri. Located at 3201 Ashland Ave., the single-tenant ophthalmology surgery center totaling 11,174 SF features a state-of-the-art operating room and comprehensive ophthalmology infrastructure serving the regional market. The transaction was structured as a 10-year sale-leaseback, allowing the physician owner of Wiles Eye Center to unlock real estate equity while maintaining full operational control. The asset attracted strong investor interest due to its single-tenant structure, specialty surgical use, modern buildout, and stable long-term lease.

ACQUISITION: IRA Capital acquires a 24-property medical portfolio totaling 1.5M SF across 11 states. The portfolio was purchased from a publicly traded REIT and serves as the seed investment for a newly formed IRA-sponsored healthcare venture backed by a sovereign wealth fund and an international pension investor. The collection consists of mission-critical, purpose-built medical facilities, most of which are located on or adjacent to hospital campuses, including 11 buildings physically connected to hospitals. Samir Patel, Managing Partner at IRA Capital, leads the newly launched platform, which is targeting several billion dollars of additional healthcare acquisitions nationwide.

DEVELOPMENT: Broward Health unveils plans for new MOBs and parking garage. The projects are designed by The Beck Group in collaboration with DMZ Architects and are scheduled to open in 2027. The Broward Health Medical Center development will feature an eight-story, 188,000 SF MOB with 129 exam rooms expandable to 237. The campus will also feature a seven-story, 300,000 SF parking garage with approximately 700 spaces. At Broward Health North, the project includes a six-story, 114,000 SF MOB with 75 exam rooms expandable to 123. The expansion is led by Broward Health under the leadership of Shane Strum, Dane Ficco, and David Clark. Bryan Wilson leads The Beck Group’s South Florida office on the project.

FINANCING: Montecito Medical refinances Nashville-area MOB with $65.9M loan. Montecito Medical Real Estate secured the loan from Capital One for Murfreesboro Medical Clinic, a 221,000 SF medical outpatient facility in Murfreesboro, Tennessee. Located at 1272 Garrison Drive, the three-story property was delivered in two phases, with 78,000 SF completed in 2008 and an additional 143,000 SF added in 2013. Tenants at the facility include Murfreesboro Medical Clinic, Pediatrix, and Results Physiotherapy.