Press Release
Sendero Capital and TPG Angelo Gordon Programmatic Joint Venture Acquires Medical Center on 3.58 Acres of Land for $17.725 Million from Intercontinental Real Estate
Weymouth, MA – October 28, 2024 – In a transaction arranged by CBRE, a joint venture of Sendero Capital and TPG Angelo Gordon has acquired 51, Performance Drive in Weymouth, MA, a 68,621 sq.-ft. medical center on 3.58 acres of land, for $17.725 million from Intercontinental Real Estate.
The transaction represents the seventh acquisition in Sendero Capital and TPG Angelo Gordon’s programmatic joint venture, which allows for up to $300 million in investments in outpatient healthcare real estate. The joint venture is focused on value-add and core-plus outpatient medical office and surgery center assets throughout the Northeastern United States – a region with high barriers to entry, strong growth, and one of the largest concentrations of healthcare businesses in the U.S.
Home to Mass General Brigham, Atrius Health and Dana Farber, the property was developed in 2007 and was designed and built as a state of the art outpatient medical building, with electrical, mechanical, and plumbing systems sized specifically for medical tenancy. The property includes a dedicated ambulance drive-up and staff entry, automatic entry systems, backup generator and stretcher-capable elevators. The facility is conveniently located within one mile of Route 3, the major north-south highway that serves the South Shore.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction, and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Contact:
Melissa Coley
+1 212 984 6639
Melissa.coley@cbre.com
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