Sendero Capital and TPG Angelo Gordon announced a joint venture to acquire a Wellesley, Massachusetts medical outpatient building (MOB) for $24.3 million. Newmark arranged the transaction.
The building, anchored by Mass General Brigham and Tufts Medicine, spans 67,264 square feet and serves various medical specialties. The price is approximately $361 per square foot.
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.
Headquartered in Los Angeles, California, TPG Angelo Gordon is a $74 billion diversified credit and real estate investing platform within TPG. The firm focuses on four main investment disciplines: credit, real estate, private equity and multi-strategy. TPG Angelo Gordon manages approximately $78 billion.
According to data captured in the LevinPro HC database, this transaction marks the 94th MOB acquisition of 2024. This is the second acquisition made by the joint venture between Sendero Capital and TPG Angelo Gordon in 2024.
