Attracting the Right Tenant Mix to Medical Space

Cumella: “Talk with your existing physicians and practice managers to see if they have synergistic practices in other buildings or if they have thought about expansion or additional services.”

RANCHO SANTA MARGARITA, CA—Good operators will understand their market as well as the health systems and providers that deliver the care in order to achieve the right synergies in medical-office buildings, Cypress West Partners partner Chris Cumella tells GlobeSt.com. The firm recently acquired Riverwalk Medical Plaza, a 54,923-square-foot campus-adjacent medical-office building at 9450-9500 Stockdale Hwy. in Bakersfield, CA.

The Southern California-based healthcare investment, leasing and property management firm acquired the property in a joint venture with MedProperties Holdings LLC, a national, healthcare-focused real estate private-equity firm headquartered in Dallas. This transaction marks the team’s fifth joint-venture acquisition. Capital One Healthcare Financial Solutions provided the debt for the transaction, as well as the joint venture’s previous four acquisitions.