STAMFORD – Albany Road-Summer Street LLC, an entity managed by Albany Road Real Estate Partners based in Boston, has purchased three multi-tenant outpatient medical buildings located at 945, 999 and 1275 Summer St. for an undisclosed price, according to CBRE.
Albany Road recently bought the properties from Summer Street Properties LLC. The 85% leased portfolio consists of 15 different synergistic medical specialties, including orthopedics and sports, pediatrics, obstetrics and gynecology, orthodontics. The portfolio’s central location is in the medical corridor of Stamford’s Central Business District, between Stamford Hospital and the Tully Medical Center
The broker on the deal was CBRE. It was led by the team of Jeff Dunne, Steve Bardsley and Travis Langer, in collaboration with Brannan Knott and Chris Bodnar of CBRE’s U.S. Healthcare Capital Markets, represented Summer Street Properties and procured the buyer.
“The Summer Street Medical Portfolio’s diversified tenant mix provides medical services in varied practices, at one location, to meet patient needs,” CBRE Vice Chairman Jeff Dunne said. “This one-stop convenience, coupled with the cosmetic capital upgrades planned by Albany Road, will be attractive to both medical practitioners and their patients, creating additional leasing velocity.”
The medical office buildings on Summer Street were last appraised in 2024 for a total value of $17.7 million.
- 945 Summer St.: $1.91 million (it was last purchased by Summer Street Properties LLC for $1.5 million in 2012)
- 999 Summer St.: $7.14 million (it was last purchased by Summer Street Properties LLC for $2.2 million in 1993)
- 1275 Summer St.: $8.17 million (it was last purchased by Summer Street Properties LLC for $2.15 million in 1993)
Some of the major tenants at the buildings include Northwell Health, Westchester Health Associates, Coastal Obstetrics & Gynecology and the Vascular Care Group.
