Altera purchased La Cholla Medical Plaza as part of a four-property portfolio in Tucson, AZ. La Cholla is located adjacent to the Northwest Medical Center campus. With
approximately $1,000,000 of capital already contributed, La Cholla is a desired destination by both tenants and patients.
Altera purchased Desert Life Medical Plaza as part of a four-property portfolio in Tucson, AZ. Desert Life consists of six separate buildings situated around a central courtyard. The Medical Plaza is located on the Northwest Medical Campus.
Altera purchased Gateway Medical Plaza as part of a four-property portfolio in Tucson, AZ. Situated on the Northwest Medical Campus, Gateway Medical Plaza is the gold standard of medical outpatient facilities in the Tucson market. The Hospital & Tucson Orthopedic, the largest ortho group in Tucson, occupy 100% of the building.
Altera purchased Academy Medical Center as part of a four-property portfolio in Tucson, AZ. The property consists of four multi-tenant buildings. The Academy buildings are currently undergoing extensive capital improvements to bring the buildings to market standard and generate leasing velocity in the East of Tucson. Plans have been established to bring the vacant surgery center to code, allowing for use-free tenancy adjacent to the hospital campus.
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This offering represents a unique opportunity to invest in a well-located, urban medical outpatient building which has been historically mismanaged, resulting in a currently under valued piece of real estate. The building is currently 68% leased with rents 30% below market. The property is being purchased for $99/SF and the partnership plans to invest $51/SF in capital improvements in order to reposition the property to a Class B+ asset, which is roughly 45% of the replacement cost of the building.