TUCSON, AZ  (June 24, 2025) — AG-CW LA Cholla Oro MOB Owner, LLC, a joint venture between Angelo Gordon and Cypress West, has completed the acquisition of La Cholla Medical Plaza, a Class A medical office building at 6130 N La Cholla Blvd in Tucson, Arizona. The transaction closed on June 18, 2025, with a recorded purchase price of $13.5 million in this non-arm’s-length transaction.

La Cholla Medical Plaza is a two-story medical facility totaling approximately 67,731 square feet, built in 1998. The property is 80% occupied, with 14,075 square feet advertised for lease in five fully built-out suites, suitable for medical or office/medical use. It is strategically located on the Northwest Medical Campus adjacent to Northwest Medical Center, a 300-bed regional hospital.  Major tenants include Northwest Hospital Pain Management and Wound Care, as well as Pima Heart & Vascular and Eye Associates of Tucson.

The property was previously acquired by Cypress West in January 2021 from Healthpeak Properties for $12.77 million. Ownership was held under CWRP La Cholla Oro MOB Owner, LLC, a Cypress West entity. On June 18, 2025, ownership was formally transferred into AG-CW LA Cholla Oro MOB Owner, LLC, marking a strategic recapitalization of the asset and its transition into the broader AG-CW portfolio. The transfer reflects Cypress West’s ongoing strategy of migrating high-performing healthcare properties into its joint venture with Angelo Gordon, following the establishment of a $300 million investment platform targeting medical office buildings across the Sun Belt.

This new ownership structure combines Cypress West, a healthcare-focused real estate investment and management firm, with Angelo Gordon, a leading global alternative investment firm with a strong track record in real estate. Angelo Gordon’s experience in sourcing, structuring, and managing commercial real estate investments complements Cypress West’s deep operational expertise in the medical office sector. Together, the AG-CW platform is well-positioned to target long-term value creation in healthcare real estate markets nationwide.

The new ownership group plans to maintain the property’s Class A positioning in the market while investing in tenant retention, targeted leasing, and long-term operational improvements. The building’s proximity to a major hospital and its mix of long-term tenants positions it for continued performance in a stable and growing medical corridor.

The Kidder Mathews healthcare real estate team, Aneesa Daas, Michael Dupuy, Emily Ernst, Perry Gabuzzi, Rachael Thompson, Fletcher Perry, Chad Sutton, and Zack Harris handled the re-capitalization.

AG-CW Healthcare Real Estate Partners is actively acquiring similar medical office properties in key regional markets.

Bryan McKenney, Director of Brokerage Services at Cypress West, can be reached at 949.478.0087 and Ryan McGregor with Cushman & Wakefield | Picor handles the leasing and can be contacted at 520.546.2748.

Oro Valley, Arizona — Cotlow Company of Tucson (Dean Cotlow) has completed construction of a built-to-suit for TOI Real Estate, LLC.   The new facility is located at 12315 N Vistoso Park Road in Innovation Park, directly west of the Northwest Medical Center – Oro Valley Hospital in Oro Valley.

The facility contains 10,270-square-feet of Clinical Space, Physical Rehab, Medical Equipment & Braces, Procedure Room and Two X-ray Units.  It was a built-to-suit that has been leased to Tucson Orthopaedic Institute.  The facility is just one example of the quality of care provided by Tucson Orthopaedic Institute for their patients.

The practice includes five physicians of Tucson Orthopaedic that purchased the 57,498-square-foot lot in Innovation Corporate Center in Oro Valley for $689,976 ($12 PSF) in May 2016. Doctors Jeffrey Baron, Gerard Jeong, William Pickett, Eric Anctil and John Maltry are all physicians at Tucson Orthopaedic Institute who will be moving from other offices across the street at the Northwest Medical Center .

The facility was designed by Highton Company and constructed by Division II construction.

For additional information, Cotlow should be called at 520.881.8180.

Life Care Centers of America through an affiliate, Tucson Real Estate Investors and Forrest L. Preston of Cleveland, TN, exercised an option to purchase the property it had been leasing for 10-years at 6211 N La Cholla Blvd in Tucson for $7.55 million ($46,572 per bed).

The seller, Health Care REIT of Toledo, OH purchased the property in December 2005 for $13 million in a sale leaseback agreement with Life Care Centers of America.

Located directly across the street from Northwest Medical Center, Life Care Center of Tucson is a 75,840-square-foot facility on 3.5 acres, licensed for 162 residents, offering skilled nursing services to seniors.

The privately-held company has been consolidating its focus on core facilities-based operations according to Preston. In September, the Cleveland, TN, businessman sold 13 home health agencies operated by the home health care business affiliated with Preston’s Life Care Centers of America. Life Care Home Health was sold to the to the Lafayette, LA-based home health care firm, LHC Group, Inc, a national provider of home health, hospice and comprehensive post-acute healthcare services, for $10 million, in the first major asset sale from this nursing home and senior care empire.

Life Care’s home health division, which was created in 1997, produced revenues of $28.5 million last year, with about 90 percent of the payments coming from Medicare. The agencies operated in 8 states, and comprised about 1 percent of the $2.9 billion a year of revenues generated by all of Preston’s Life Care businesses.

Preston said at the time of sale it would help Life Care “pursue a primary strategic focus on core facilities-based operations.”

Life Care manages more than 200 facilities with 31,255 beds in 28 states, and provides long-term, post-acute and short-term care and rehabilitation services for elderly patients, and also offers home-care services through its subsidiary, Life Care Home Health Inc.

Login for additional information.

[mepr-show rules=”58038″]Sale date: 11/6/2014. Sale price: $7,544,672, with $722,788 down and balance financed with conventional loan. Property APN: 101-09-003M[/mepr-show]