Real estate joint venture snags $75M credit facility

A joint venture between real estate investment, development and advisory firm Sendero Capital and Angelo Gordon, an investing platform, received a $75 million credit facility, Commercial Property Executive reported Nov. 7.

The credit facility is seeded with four assets in Connecticut, Rhode Island and New Hampshire. The assets are a combined 201,369 square feet.

"The seed portfolio totaled nearly $30 million in initial loan proceeds, with a $45 million accordion feature for the acquisition of additional medical properties," according to Commercial Property Executive.

The Sendero Capital-Angelo Gordon joint venture focuses on value-add and core-plus outpatient medical offices and ASCs across the Northeast. 

The funding was arranged by JLL Capital Markets.

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