Real estate investment firms Holualoa Companies and HSL Properties recently completed a joint venture acquisition of the former United Way building located at 1515 Osborn Road in central Phoenix. The two-story office facility, built in 1958, has been leased to Sinfonia Health, who will use the building as a medical and behavioral health clinic.
The Joint Venture will lease the 33,000 square-feet of space, in its entirety, to Assurance Health & Wellness. Assurance opened the first medical clinic in Arizona combining mental health treatment and primary medical care in one location in Tucson in November 2014. A second clinic will operate in the former United Way building under a contract with Mercy Maricopa Integrated Care, the Regional Behavioral Health Authority for Maricopa County.
“We are very excited to team up again with Holualoa to make this strategic acquisition,” said Omar Mireles, Executive Vice President at HSL Properties.
The acquisition is the latest for Holualoa Companies and HSL Properties, the largest apartment owner in Southern Arizona. The companies recently teamed up to purchase the downtown Phoenix luxury condominium high rise 44 Monroe, Arizona’s tallest residential tower.