PHOENIX-Colliers International says that Vancouver-based private investor Talia Jevan Properties (TJP) has acquired the Lifeprint Health Center at 20414 N. 27th Ave. in Phoenix for $20.5 million. The Lifeprint property represents TJP's second class A acquisition in the US.

Bob Broyles, SVP with Colliers in greater Phoenix, and Simon Lim, EVP with Colliers in Vancouver, represented TJP in negotiating the purchase of this key investment property. Eric Wichterman, Mike Coover and Tom Weinhold with Cassidy Turley Arizona represented the seller, Winthrop Realty Trust of Boston.

Built in 2008, the 81,875-square-foot, five-story Lifeprint Health Center is a trophy class A medical property located at the intersection of two major freeways—I-17 and West Loop 101. Situated near retail amenities and within a few blocks of the John C. Lincoln Deer Valley Hospital, the building also includes a 4 ½-story parking garage with 300+ spaces.

“The Lifeprint Health Center is a great addition to Talia Jevan's portfolio,” Broyles said. “Its strong base of synergistic tenants, state-of-the-art amenities and proximity to the hospital, combined with a fantastic location, make this a highly attractive medical property.”

The property is currently 98% occupied with a range of strong tenants. Lifeprint, a primary care, multi-specialty clinic owned by United Healthcare, occupies approximately 50% of the building. Other tenants include Premier Research Group, SimonMed Imaging, Southwest Desert Cardiology, Sonora Quest Laboratories and Central Garden and Pet.

"To date, we've acquired just under $40 million in U.S. real estate. Our goal is to have upwards of $100 million within a short time frame,” said Harmel Rayat, president of Talia Jevan Properties. “As with our Canadian portfolio and our recent purchase of 94 Hundred Shea, a 74,000-square-foot mixed-use retail and office complex in North Scottsdale, we are primarily interested in class A assets.

TJP will continue to work closely with Colliers International and lead advisors Vector Asset Management, Inc. in making further strategic acquisitions.

“This follow-on acquisition marks Talia Jevan's second such purchase in as many months, a rapid deployment of our near-term $100 million-plus allocation,” said Jay Bhogal, president and CEO of Vector Asset Management. “We're confident that both of these target acquisitions and timing are opportune.”

The Phoenix team of Cohen Financial, led by partner-director Brandon Harrington, arranged acquisition financing for this transaction. “We were able to close the deal in 30 days due to our management of the underwriting and legal process, which is critical in a volatile interest rate environment. In addition, we were able to mitigate rollover risk with our correspondent lender to maximize proceeds,” said Harrington.

The Lifeprint Heath Center will be managed by the well-known Plaza Companies. Megan Sherwood with Plaza will manage the leasing.

Established in 2006, Talia Jevan Properties, Inc. is a privately owned investment firm specializthe acquisition and long term ownership of “signaturesque” commercial real estate assets throughout North America.  Talia Jevan's present portfolio consists of 440,000 square feet of prized, commercial real estate properties.  

Colliers International, a subsidiary of FirstService Corporation, is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries.ing in