Henderson medical office building sells for $32M
California and Texas investors teamed up to buy a once-foreclosed medical building in Henderson.
Cypress West Partners announced Wednesday that it partnered with Virtus Real Estate Capital to acquire Parkway Medical Plaza, 100 N. Green Valley Parkway at the 215 Beltway.
The three-story, 88,958-square-foot medical office building is 95 percent occupied.
Cypress did not announce the purchase price, but property records show the buyers paid $31.75 million and that the sale closed Feb. 2.
The building was constructed in 1997 and seized through foreclosure in 2011, county records show. Las Vegas-based Odyssey Real Estate Capital acquired it in 2013 and sold it this month.
Cypress, based in Rancho Santa Margarita, California, says it buys and develops medical properties in the Western U.S.
Virtus, based in Austin, Texas, boasts more than $3.2 billion worth of total acquisition value.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.