BOSTON, Jul. 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. 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. 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."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory, or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos, and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 12 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2023 09:57:21 UTC.
