Cypress West, TPG buy 112K SF Salt Lake City MOB, Renaissance Medical Center

A joint venture between Cypress West Partners and TPG Angelo Gordon has acquired Renaissance Medical Center, a 112,192-square-foot medical outpatient building in Bountiful, Utah, a Salt Lake City submarket. The duo took out a permanent loan from Capital One, according to CommercialEdge.

Healthcare Realty sold the asset, the same source shows. The company had purchased it in June 2008 from Broadhead & Co. for $30.2 million. Newmark Healthcare Capital Markets represented Cypress West Partners and arranged the acquisition financing.

TPG Angelo Gordon
Frank Virga | Managing Director, U.S. Real Estate-Student/Medical/Senior/Hospitality
TPG Angelo Gordon
Scott Glassberg | Managing Director, U.S. Real Estate-Midwest/Mountain
Cypress West Partners
George Baker | Director, Acquisitions

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