A 14-property office portfolio on Long Island has secured $280 million in financing.
The portfolio, located in Lake Success, Melville and Jericho, totals about 1.51 million square feet and is owned by a joint venture of TPG Angelo Gordon and The We’re Group.
Currently 87% leased; the portfolio has a roster of more than 75 tenants with a weighted average remaining lease term of 5.3 years. About 58% of the portfolio’s rentable area is leased for medical office use, with tenants that include affiliates of Optum Health subsidiary ProHealth, Northwell Health, NYU Langone School of Medicine, New York Blood and Cancer and Catholic Health, according to a statement from Newmark.