Sendero Capital and Angelo Gordon complete first medical office building acquisition as part of their programmatic joint venture in Hamden, CT

1952 Whitney Avenue, a 53,120-square-foot
 medical office building in Hamden, CT

 

BOSTON, MA, July 12, 2023 –  JLL Capital Markets announced today that it advised on the acquisition of 1952 Whitney Ave., a 53,120-square-foot medical office building in Hamden, Connecticut.

 

JLL represented Sendero Capital and Angelo Gordon, who have formed a programmatic joint venture (also arranged by JLL) for up to $300 million in investments in outpatient healthcare real estate over the next two years, in the acquisition.

Brannan Knott 

The purchase of 1952 Whitney Ave. is the first acquisition as part of the joint venture, which will focus on value-add and core plus outpatient medical office and surgery center assets throughout the Northeast United States – a region with high barriers to entry, strong growth, and one of the largest concentrations of healthcare businesses in the U.S.

 

1952 Whitney Ave. is a mission critical healthcare facility that is 88% occupied to a diverse tenant roster.

 

The property is anchored by Hartford Healthcare and Yale New Haven Health as well as dominant physician practices providing a range of specialities, including internal medicine, cardiology, dermatology, endocrinology, podiatry and physical therapy.

 

Located in the New Haven suburb of Hamden, 1952 Whitney Ave. is convenient to Route 15 and Interstate 91, providing access throughout the Southern Connecticut area.

Anthony Sardo

Additionally, the property has a Connecticut transit stop in front of the building. 

The facility is positioned in a healthcare-concentrated area with more than 3.2 million square feet of acute-care, rehabilitation and cancer hospitals nearby providing ancillary demand.

 

The JLL Capital Markets team was led by Managing Director Brannan Knott and Director Anthony Sardo.

 

“A well-located, health system-anchored medical office building was a great way to kick-off the venture,” said Knott.

 

“We expect Sendero and Angelo Gordon are going to be very active in the regional market and believe this is to the benefit of those looking to transact as they have knowledgeable and good people at the helm to work with.”

 

For more news, videos, and research resources, please visit JLL’s newsroom.

 CONTACT:

 

Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@jll.com