Sendero Capital and Angelo Gordon have purchased 1 Hampton Road, an 82,000-square-foot medical office building in Exeter, N.H. GL Rogers & Co. is the former owner of the asset, having acquired it in 2012 for $10 million, according to CommercialEdge data. In 2017, the property became subject to a $7.5 million loan from Bank of New Hampshire, the same source shows.
The two buyers formed a $300 million programmatic joint venture for investment in outpatient health-care facilities last month, with 1 Hampton Road marking the vehicle’s third acquisition. Earlier this month, the two partners also purchased a 30,000-square-foot MOB in Providence, R.I.
Completed in 1985, 1 Hampton Road is a two-building property featuring 361 parking spaces and five passenger elevators. At the time of the sale, the asset was 92 percent, with tenants including Access Sports Medicine, Seacoast Pathology and Exeter Hospital. The Aim Clinic, Fresenius Kidney Care and Aurora Diagnostics also occupy space at the property, according to CommercialEdge.
JLL Managing Director Brannan Knott, Senior Managing Director Mindy Berman, Director Anthony Sardo and Associate Landon Weaver led the Capital Markets team that negotiated the sale. Knott and Sardo were also involved in the joint venture’s first acquisition.