“49 Spring Street exemplifies exactly the type of asset we seek to own — a fully leased, clinically essential outpatient facility anchored by the leading health system in its market,” said the buyer.
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Sendero Capital, a real estate investment, development and advisory firm based in Boston, acquired a 37,410-square-foot outpatient medical office building at 49 Spring St. in Scarborough for $14.5 million.
The Class A, three-story outpatient medical office building on 3.4 acres, dating back to 1985, is fully leased to MaineHealth, which operates a broad range of outpatient clinical services from the facility.
MaineHealth is the largest integrated health system in Maine and northern New England.
The seller was Ira Hyundai Inc. Thomas Gadbois of F.O. Bailey Real Estate represented both buyer and seller in the deal.
"49 Spring St. exemplifies exactly the type of asset we seek to own — a fully leased, clinically essential outpatient facility anchored by the leading health system in its market," said Ross Negele, Sendero’s co-founder.
Health care focus
Sendero Capital is a health care real estate investment firm focused exclusively on acquiring, developing and operating outpatient medical office buildings, ambulatory surgery centers and other health care facilities across the U.S. The firm partners with leading health systems, physician groups and health care providers to own health care infrastructure that supports the delivery of high-quality patient care.
"We are proud to begin a long-term relationship with MaineHealth and to support its mission of delivering high-quality, accessible care throughout the region,” said Negele. “As long-term owners, we see ourselves as stewards of critical health care infrastructure, investing in environments that enable providers to focus on what matters most—delivering exceptional care to their patients and strengthening the communities they serve."
Medical corridor
The Northeast is characterized by high barriers to entry, strong demographic fundamentals and one of the nation's largest concentrations of health care providers, Negele said.
"We founded Sendero Capital around one simple point of conviction: as health care continues to migrate from the hospital campus into the community, outpatient real estate has become indispensable infrastructure for health systems seeking to expand access, improve patient experience, and deliver care more efficiently," he continued. "Our role is to own, invest in and operate the facilities that allow leading health systems and physician groups to deliver care where patients increasingly want to receive it."
The property is located within Scarborough's established medical corridor and serves one of the fastest-growing communities in the Portland metropolitan area, he noted.
Migration of care
“The acquisition aligns with an accelerating, demographically driven migration of care from inpatient hospital settings to lower-cost outpatient environments,” Negele said. “U.S. outpatient volumes are expected to continue growing over the coming decade as health systems expand ambulatory networks to improve patient access, reduce the cost of care and meet evolving consumer preferences.”
He continued, “Health systems led medical office leasing activity in 2025, reinforcing the long-term resilience of strategically located, health-system-anchored facilities such as 49 Spring St., where demand is supported by essential clinical services rather than broader real estate market cycles.
The acquisition represents Sendero Capital's second investment in the Greater Portland market this year, following its acquisition of 33 Sewall St. earlier this year. It’s the firm's first investment with MaineHealth as the anchor tenant.
