{"id":1004747987,"date":"2025-02-21T05:43:28","date_gmt":"2025-02-21T13:43:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004747987"},"modified":"2025-02-21T05:43:30","modified_gmt":"2025-02-21T13:43:30","slug":"tpg-angelo-gordon-jv-pays-108m-for-mob-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tpg-angelo-gordon-jv-pays-108m-for-mob-portfolio\/","title":{"rendered":"TPG Angelo Gordon JV Pays $108M for MOB Portfolio"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"2048\" height=\"1364\" data-attachment-id=\"1004747989\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tpg-angelo-gordon-jv-pays-108m-for-mob-portfolio\/cool-springs-tn\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg\" data-orig-size=\"2048,1364\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Cool-Springs-TN\" data-image-description=\"&lt;p&gt;Property at 2001 Mallory Lane in Franklin, Tenn.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;TPG Angelo Gordon also formed a joint venture with Cypress West to purchase MOB assets. Last month, the duo bought the Tennessee property pictured above. Image courtesy of TPG Angelo Gordon and Cypress West&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg\" alt=\"Aerial shot of the medical office building that TPG and Cypress West acquired in January. The asset is in Franklin, Tenn.\" class=\"wp-image-1004747989\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg?resize=1024,682 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Cool-Springs-TN.jpg?resize=1536,1023 1536w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/a><figcaption class=\"wp-element-caption\">TPG Angelo Gordon also formed a joint venture with Cypress West to purchase MOB assets. Last month, the duo bought the Tennessee property pictured above.<em> Image courtesy of TPG Angelo Gordon and Cypress West<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Altera Fund and TPG Angelo Gordon purchased a 10-asset medical office portfolio for $108 million. NHP sold the collection with Newmark representation. Capital One Bank provided acquisition financing.<\/p>\n\n\n\n<p>The 300,000-square-foot portfolio encompasses properties throughout Arizona, Illinois, Massachusetts, Texas and Tennessee.<\/p>\n\n\n\n<p>Altera&#8217;s investment strategy is to acquire value-add MOB assets at a substantial discount to replacement cost. The market for such deals is on an upward trajectory as investor and lender capital availability continues to increase, according to prepared remarks by Newmark Healthcare Capital Markets Senior Managing Director John Nero.<\/p>\n\n\n\n<p>Newmark&#8217;s Nero together with Executive Managing Directors Jay Miele and Ben Appel, as well as Senior Managing Director Michael Greeley represented NHP in the portfolio sale.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-mob-investment-up-in-2024-clearer-skies-ahead\">MOB investment up in 2024, clearer skies ahead<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/these-markets-top-mob-investment-activity\/\">Medical office building investment<\/a> rebounded in 2024, with the sales volume climbing 61 percent year-over-year, according to Cushman &amp; Wakefield\u2019s research. Despite last year\u2019s challenging liquidity conditions and less active capital markets, the <a href=\"https:\/\/www.commercialsearch.com\/news\/medical-office-real-estate-trends-to-watch\/\">2025 forecast for the MOB sector<\/a> appears to be positive.<\/p>\n\n\n\n<p>This year, single-asset and small portfolio deals are set to continue capturing investor interest, while there\u2019s also a potential for larger portfolio deals, Colliers National Director of Healthcare Services Shawn Janus previously told <em>Commercial Property Executive<\/em>.<\/p>\n\n\n\n<p>One such single-asset MOB deal closed earlier this year. In January, a joint venture between TPG and Cypress West purchased Cool Springs Professional Center, a 47,000-square-foot building in Franklin, Tenn.<\/p>\n\n\n\n<p>That purchase marked the venture\u2019s eighth acquisition and its first purchase in Tennessee. The two companies joined forces in April 2024, with plans to <a href=\"https:\/\/www.commercialsearch.com\/news\/cypress-west-tpg-angelo-gordon-form-300m-jv\/\">acquire up as much as $300 million<\/a> in medical office assets throughout the Sun Belt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The medical office building collection spans five states. <\/p>\n","protected":false},"author":3471,"featured_media":1004747989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,23891,21742],"tags":[50999,52382],"class_list":["post-1004747987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-national","category-latest","tag-newmark","tag-tpg-angelo-gordon"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TPG Angelo Gordon JV Pays $108M for MOB Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Altera Fund and TPG Angelo Gordon paid $108 million for a 10-asset medical office building portfolio. NHP sold the asset, advised by Newmark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tpg-angelo-gordon-jv-pays-108m-for-mob-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TPG Angelo Gordon JV Pays $108M for MOB Portfolio\" \/>\n<meta property=\"og:description\" content=\"Altera Fund and TPG Angelo Gordon paid $108 million for a 10-asset medical office building portfolio. 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