Acquisition of a medical office building in New Hampshire completed by Sendero Capital and Angelo Gordon

BOSTON, Aug. 9, 2023 –  JLL Capital Markets announced today that it advised on the acquisition of 1 Hampton Rd., a medical office campus comprised of two buildings totaling 82,000 square feet in Exeter, New Hampshire.

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 1 Hampton Road is the third 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.

The property is 82,000 SF, 92% leased to medical tenants, and anchored by Access Sports Medicine, Seacoast Pathology and Exeter Hospital.  In June, New Hampshire’s attorney general’s office signed off on Exeter Hospital joining Beth Israel Lahey.  The deal has been in the works since June 2022 and it includes a $375 million investment into Exeter Hospital and its affiliates.

“We are very excited to announce the acquisition of 1 Hampton Rd and to be a part of the growing community in Exeter, NH. We see this as an opportunity to partner with Exeter Hospital & Beth Israel Lahey Health, as well as many of the region’s leading healthcare providers, as the premier off-campus outpatient medical facility in the region,” said Ross Negele, Principal, Sendero Capital.

1 Hampton Rd. is located one mile from Exeter Hospital and less than 50 miles from two national airports (Manchester, NH and Boston, MA). The location is easily accessible from NH Route 101, U.S. Interstate 95 and the Amtrak Commuter Rail via the Downeaster.

Exeter is considered the “crossroads” of the New Hampshire Seacoast. The area has a year-round population of nearly 15,000 residents, with a diverse housing mix and a diverse population, with a combination of seniors, young families and millennials. Exeter is ideally situated 50 miles north of Boston, Massachusetts, 50 miles south of Portland, Maine, and 30 miles east of Manchester, New Hampshire.

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

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.

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