Christopher J. Cumella And TPG Angelo Gordon Acquire Chula Vista Medical Office For $11.6M

The transaction involved the sale of a medical office asset located at 450 4th Avenue in Chula Vista. The property encompasses a total area of 37,000 square feet and was sold for $11,600,000, representing a price per square foot of $314.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $11,600,000
• Address: 450 4th Avenue
• Market: Chula Vista
• Square Footage: 37,000
• Price per Square Foot: $314
• Buyer: Christopher J. Cumella - Cypress West Partners; TPG Angelo Gordon
• Seller: Turner Impact Capital
• Broker: Evan Kovac & Matt DiCesare - JLL

Cypress West Partners and TPG Angelo Gordon acquired the property as part of a strategic joint venture aimed at investing $300 million in medical office assets throughout the Sun Belt region. The brokerage firm JLL Capital Markets facilitated the transaction.