MedProperties Holdings, Caddis form JV to Develop Behavioral Health Hospital near Phoenix

SURPRISE, Ariz. – MedProperties Holdings LLC and Caddis have formed a joint venture to develop the 90-bed, 67,566-square-foot Destiny Springs Behavioral Health Hospital in Surprise, Arizona, about 20 miles northwest of Phoenix. This will be MedProperties’ seventh joint venture with Caddis and the 16th investment by the MedProperties Investment Partners Fund.

The build-to-suit hospital, which will provide both inpatient and outpatient treatment for adolescents, adults and geriatric patients, will be located on a 6.03-acre site less than a mile from U.S. Highway 60.

The general contractor is Jokake Construction, and the architect is the Devenney Group. The hospital is expected to be completed in fall 2018.