Cypress West and TPG Angelo Gordon Joint Venture Acquires Medical Center in Franklin, Tennessee

Cypress West Partners (Cypress West) in joint venture with TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, today announced the off-market acquisition of Cool Springs Professional Center, a 47,000-square-foot medical office building located at 2001 Mallory Lane in Franklin, Tennessee. This is the eighth acquisition by the Cypress West and TPG Angelo Gordon joint venture and its first acquisition in Tennessee.

Built in 1996, Cool Springs Professional Center is occupied with a strong tenant mix and a weighted average lease term of 4.9 years. Anchor tenants include Vanderbilt University Rheumatology and Results Physiotherapy, complemented by medical specialties including dermatology, men’s health, oculoplastic surgery, neurology, and plastic surgery.

Earlier this year, Cypress West and TPG Angelo Gordon announced a programmatic joint venture seeking to acquire up to $300 million in medical office assets across strategic, high-growth Sunbelt and West Coast markets. The joint venture targets core-plus and value-add returns through leasing, repositioning, and redevelopment.

“Cool Springs is another strong addition to our growing portfolio in partnership with TPG Angelo Gordon,” said Chris Cumella, CEO and Co-Founder of Cypress West. “As we continue to execute on our two-year joint strategy, we are very pleased with progress to date, and our conviction remains strong in the medical office assets we’ve identified in high-growth locations.”

Frank Virga, Managing Director on TPG Angelo Gordon’s U.S. Real Estate team, added, “Our deep experience and resources, combined with Cypress West’s, have enabled our team to identify assets in competitive, emerging hubs for medical services, like Franklin, and execute at a high level. We look forward to the opportunities and continued collaboration ahead.”

About Cypress West
Cypress West is a vertically-integrated, owner-operator focused on acquiring, developing and operating institutional quality healthcare real estate throughout the United States. Based in Orange County, CA and Dallas, TX, the firm is led by its two founders, Chris Cumella and Jeff Johnson, and principals Eric Minor, Ed Hernandez, and Sam Clark who are responsible for leading a large, diversified portfolio of healthcare real estate with decades of experience underwriting medical properties. For acquisition opportunities, please contact Sam Clark (sclark@cypresswestpartners.com) and Ed Hernandez (ehernandez@cypresswestpartners.com).

About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $239 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.