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

Property Image
SOLD
$11,600,000
Evan Kovac
Matt DiCesare

California

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Medical Office37,000 SF
Sold 07/10/2024
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Property Image
SOLD

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

450 4th Avenue

See Similar Deals
Medical Office37,000 SF
Sold 07/10/2024
Evan Kovac
Matt DiCesare
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Medical Office
Price Per Square Foot:$313
Total Square Footage:37,000 SF
Transaction Type:Sale

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.

Players

Evan Kovac
JLL
Evan Kovac
6 deals$759.9M volume
BROKER
Matt DiCesare
JLL
Matt DiCesare
9 deals$343.7M volume(310) 407-2149
BROKER

Details

SOLD
IMAGE: 07/10/2024 ADDRESS: 450 4th Avenue MARKET: Chula Vista ASSET TYPE: Medical Office BUYER: Christopher J. Cumella - Cypress West Partners; TPG Angelo Gordon SELLER: Turner Impact Capital BROKERS: Evan Kovac & Matt DiCesare - JLL SALE PRICE: $11,600,000 SF: 37,000 ~ PPSF: $314 NOTE: Cypress West Partners and TPG Angelo Gordon acquired the 37,000-square-foot Chula Vista Medical Arts II building for $11.6 million, brokered by JLL Capital Markets. This purchase is part of their joint venture targeting $300 million in medical office assets across the Sun Belt.

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