JLL Capital Markets announced on August 3 that it advised Sendero Capital and Angelo Gordon on the acquisition of a 30,000-square-foot medical office building (MOB) in Providence, Rhode Island for an undisclosed price. According to data captured in the LevinPro HC database, this represents the 120th MOB transaction of 2023.
Constructed in 2006, the 30,000-square-foot MOB is currently 96% leased to Lifespan Health System and clinical medical tenants offering a variety of services, including urgent care, primary care, imaging, pediatric care, physical therapy and pathology.
Sendero Capital is a privately held real estate investment, development and advisory firm based in Boston, Massachusetts. The principals of the firm have decades of experience investing in, developing and managing large portfolios of real estate across the United States, including millions of square feet in the healthcare sector.
Angelo Gordon is a leading alternative investment firm, managing approximately $73 billion across a broad range of credit and real estate strategies. Founded in 1988, Angelo Gordon has more than 650 employees in offices across the United States, Europe and Asia.
The transaction represents the second MOB acquisition in Sendero Capital and Angelo Gordon’s joint venture, which allows for up to $300 million in investments in outpatient healthcare real estate. In July 2023, the two companies acquired a 53,120-square-foot MOB in Hamden, Connecticut for an undisclosed price.
