BOSTON- JLL Capital city markets announced that it has agreed upon a programmatic joint venture between them capital way And Angelo Gordonwhich will enable investments of up to $300 million Real estate in outpatient health care in the next two years.
Sendero Capital and Angelo Gordon’s project will focus on value-added and core properties, ambulatory medical practices and surgical centers throughout the Northeast US – a region with high barriers to entry, strong growth and one of the largest concentrations of healthcare companies in the US
“The creation of this strategic company will strengthen our ongoing partnership with healthcare systems, physician groups and other healthcare providers as patient care continues to migrate off campus. Our deep healthcare background and targeted approach deliver a differentiated experience for our patients and providers,” said Ross Negele, director at Sendero Capital.
“Demand for outpatient healthcare facilities has continued to grow in recent years and we believe opportunities in the physician practice sector remain robust. “We look forward to working with the Sendero Capital team to pursue acquisition opportunities in this space – leveraging their extensive expertise in the healthcare industry and Angelo Gordon’s extensive experience in value-added real estate to acquire well-located facilities throughout the North East identify and improve,” said Frank Virga, director, US Real Estate at Angelo Gordon.
According to JLL’s 2023 Healthcare Investor Survey & Trends Outlook, medical office building (“MOB”) fundamentals remain strong, with stable occupancy rates and steady rental and NOI growth. 66% of investors surveyed said MOBs are a good investment opportunity – followed by outpatient surgical centers – indicating a shift in demand for outpatient care versus inpatient facilities.
“The current economic environment, macroeconomic trends in healthcare and continued demand for outpatient services are the main drivers behind this investment thesis. By working with Angelo Gordon, we have found a highly respected institutional partner who shares our vision for this initiative,” added Michael Taylor, Managing Principal at Sendero Capital.
The JLL Capital Markets team was led by Managing Director Brannan Knott, Senior Managing Director Mindy Berman, Senior Director Andrew Gray and Associate Landon Weaver.
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