Anchor Health Properties, in a joint venture with an existing institutional equity partner, has acquired a two-building, 42,857-square-foot property in Temecula, Calif. Barnhart-Reese Construction sold the Class A asset, according to Yardi Matrix information. Public records show the medical office buildings changed hands for $23 million and the buyer financed the purchase with a $13.4 million loan from Capital One. Cushman & Wakefield assisted the seller in the deal.
Completed in 2015, the two facilities occupy more than 5 acres at 31150 and 31170 Temecula Parkway. According to Cushman & Wakefield, the two-story buildings are fully leased to a mix of clinical tenants providing urgent care, cardiology, gastroenterology, family medicine and pediatric care.
Located some 2 miles southeast of downtown Temecula, the property is down the street from Temecula Valley Hospital, a 140-bed facility operated by United Health Services. Interstate 15 is 1 mile west.
Cushman & Wakefield’s Travis Ives, Gino Lollio and Scott Niedergang with the U.S. Healthcare Capital Markets Team negotiated on behalf of the seller.
The transaction closed a few days after Anchor Health had purchased a two-building, 78,690-square-foot medical office portfolio in Germantown, Tenn. Cypress Equities sold the assets for $32.8 million.