Updated Sep 29, 2026
SOLDMedical Office
David Binswanger And Clay Duvall Of Lincoln Property Company Acquire Medical Office Portfolio Across Dallas And Phoenix
Building Size
116,957 SF
Asset Type
Medical Office
Closing
Sep 11, 2026
About this deal
AI
The transaction involved a medical office portfolio consisting of three buildings totaling 116,957 square feet in the Addison and Denton markets of Phoenix. This includes a significant property located in Addison, Texas, with a size of 79,825 square feet. The transaction is notable as it reflects a growing interest and demand for medical office assets in areas recognized for their rapid growth.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not specified
- Address: Medical Office Portfolio
- Market: Addison & Denton; Phoenix
- Asset Size: 116,957 square feet
- Buyer: David Binswanger & Clay Duvall - Lincoln Property Company; Jacques Chappuis - PGIM
The deal marks the first investment in Phoenix for the joint venture between Lincoln Property Company and PGIM. The acquisition highlights the strategic partnership between these firms as they expand their footprint in the medical office sector, capitalizing on the high demand in key growth markets.
Players
Market Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93