Equity Velocity Funds Purchases Tempe Medical Office
December 30, 2020
Equity Velocity Funds is excited to announce its purchase of 6200 McClintock in Tempe, AZ. This purchase is part of EVF’s newest fund, EVF IV: Healthcare Growth and Income Fund.
6200 McClintock is a 22,845-sf Medical Office Building. It is well positioned just off a prominent intersection of grocery anchored retail centers that see roughly 25,000 vehicles per day. It sits in close proximity to major hospitals Tempe St. Luke’s (5.1 miles) and Banner Desert Medical Center (3.7 miles).
The property is 84% occupied with heavy dental presence leasing 73% of the building.
About Equity Velocity Funds
Equity Velocity Funds is a family of private equity funds organized to invest in commercial real estate in the United States. The funds are sponsored by the principals of Equity Inc. (a full service real estate firm with a strong track record of successful development and leasing services). EVF is focused on providing capital for the development and acquisition of healthcare and retail assets, as well as creative convergence of retail and healthcare in mixed use developments. The first fund deployed capital to acquire a variety of assets. Since start up in 2014, additional funds have been established. Project acquisition efforts continue, along with evaluation of development opportunities that meet investment criteria. Fund investment decisions are made by a third party investment committee.