JLL Capital Markets advised on the purchase of 245 Alvord Park Road., the fourth acquisition in Sendero Capital and Angelo Gordon’s programmatic joint venture

  

 

 

Mindy Berman

BOSTON, MA,  Oct. 10, 2023 –  JLL Capital Markets announced today that it advised Sendero Capital and Angelo Gordon on the acquisition of 245 Alvord Park Rd. in Torrington, Connecticut, which includes a 37,854-square-foot ambulatory surgical center and outpatient medical building.

 

The price was not disclosed.

 

The JLL Capital Markets team was led by Managing Director Brannan Knott, Senior Managing Director Mindy Berman, Director Anthony Sardo and Associate Landon Weaver.

Brannan Knott

The transaction represents the fourth acquisition in Sendero Capital and Angelo Gordon’s programmatic joint venture, which allows for up to $300 million in investments in outpatient healthcare real estate.

 

The joint venture is focused on value-add and core plus outpatient medical office and surgery center assets throughout the Northeastern United States – a region with high barriers to entry, strong growth, and one of the largest concentrations of healthcare businesses in the U.S.

 

Anthony Sardo

The property is fully leased to complimentary tenancy, with Litchfield Hills Orthopedic as a long-term tenant – with approximately 56% of the building, which includes the Litchfield Hills Surgery Center – as well as endoscopy and physical therapy tenants. 

 

Hartford HealthCare recently acquired a majority stake in the Litchfield Hills Surgery Center business and plans to make a $2.75 million capital investment to fund renovations, equipment, and technology upgrades.

Landon Weaver

 Hartford HealthCare’s growth in Litchfield County has continued since its affiliation with Charlotte Hungerford Hospital in 2017.

 

245 Alvord Park Rd. is located just off Route 8 in Torrington, which has a population of 35,563 residents according to 2022 Census data and is situated in northwestern Connecticut – 42 miles north of New Haven and 29 miles west of Hartford.

  

 

CONTACT:

 

Alli Semans

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

 

Tricera Capital & Merrimac Ventures Complete 7,200 SF of New Leases at Soleste Seaside in Dania Beach, FL

 

Soleste Seaside development, Dania Beach, FL

MIAMI, FL –– Tricera Capital, the Miami-based commercial real estate owner and developer led by Ben Mandell, and Merrimac Ventures secured two tenants at the new Soleste Seaside development in Dania Beach.

Ben Mandell

Memorial Healthcare System leased 4,700 square feet on the project’s ground floor, while Antonio’s Pizza signed a lease for 2,500 square feet. 

“We enthusiastically welcome Memorial Healthcare System and Antonio’s Pizza to Soleste Seaside,” said Tricera President and Head of Leasing Dustin Ballard.

Dustin Ballard.

“Memorial has been a fixture in the South Florida community for seven decades and continues to find creative ways to expand its patient services. Antonio’s has a passionate local following and further strengthens this project.” 

 

“Memorial is expanding the primary care services we offer Dania Beach residents, and we’ll do that with a new and easily accessible, patient-centered medical home,” said Memorial’s Chief Community Officer Melida Akiti. “It will feature space for additional exam rooms and clinicians and include a multi-specialty hub for in-demand services like cardiology and endocrinology. 

 

Melida Akiti

 

"This will enable us to better meet the needs of the population and have everything under one roof that individuals need to proactively maintain their health and receive care.”   

Kaley Tuning 

Antonio’s Pizza entered the South Florida market in 1978 and is known for its high-quality Italian food and family atmosphere. The Soleste Seaside location joins Antonio’s existing restaurants in Fort Lauderdale and Hollywood. 

Elizabeth Metott 

 

Donald VanBeach, Kaley Tuning and Elizabeth Metott of Native Realty represented Tricera in the lease with Antonio’s. 

 

Merrimac Ventures is developing Soleste Seaside in partnership with The Estate Companies. Tricera and Merrimac are forward-purchasing over 13,700 square feet of ground-floor retail and restaurant space.

 

Donald VanBeach

Native Realty is representing Tricera in leasing the remaining retail and restaurant space at Soleste Seaside.  

 

The mixed-use development also includes 340 upscale rental units. Tricera is scheduled to close on the acquisition and take possession of Soleste Seaside’s ground-floor space in the first quarter of 2024. 

 

  

CONTACT:

 

Daniel Benjamin

Senior Account Executive,

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

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www.triceracap.com.