Cushman & Wakefield secure $20 million in financing for Scottsdale offices
(Courtesy Wikimedia Commons)
Real estate services firm Cushman & Wakefield has arranged $20 million in financing for a Boston company to buy the Edwards Professional Park I and II in Scottsdale.
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Real estate services firm Cushman & Wakefield has arranged $19.962 million in acquisition financing on behalf of Albany Road Real Estate Partners for Edwards Professional Park I & II, a two-building, 91,469-square-foot medical office portfolio in Scottsdale.
Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets Team led the assignment representing Albany Road, a Boston-based private equity real estate investment firm, in securing financing through a regional bank.
Located at 10752 N. 89th Place and 8952 E. Desert Cove Avenue, Edwards Professional Park I and II are strategically positioned in Central Scottsdale, one of the strongest-performing medical office submarkets in the Phoenix metropolitan area, according to a press release from Cushman & Wakefield
The buildings are currently 91% leased to 47 medical and healthcare-related tenants. Approximately 98.7% of the occupied space is dedicated to healthcare uses, including dentistry, orthopedics, gastroenterology, dermatology, behavioral health, physical medicine, infusion therapy and aesthetic medicine practices.
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