Clearwater Living Acquires Senior Housing Portfolio In Gilbert, Phoenix & Scottsdale For $255M
SOLD
$255,000,000
Arizona
See Similar DealsSold 08/12/2022
SOLD
Clearwater Living Acquires Senior Housing Portfolio In Gilbert, Phoenix & Scottsdale For $255M
2811 East Agritopia Loop South, Gilbert, Arizona 85296, United States
See Similar DealsSold 08/12/2022
Summary
ARIZONA
Transaction Type:Sale
Clearwater Living has acquired four senior housing properties in Gilbert, Phoenix, and Scottsdale for a total price of $255,000,000. The properties include 2811 East Agritopia Loop South, 15815 South 50th St, 6650 East Mayo Blvd, and 23733 North Scottsdale Road. The transaction involved a total of 546 units, with an average price per unit of $467,033.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $255,000,000
- Units: 546
- Price Per Unit: $467,033
- Buyer: Clearwater Living
- Seller: LivGenerations
- Brokers: Ryan Maconachy & Chad Lavender - Newmark
The deal was facilitated by Ryan Maconachy and Chad Lavender from Newmark. The acquisition marks Clearwater Living's expansion into the senior housing market in Gilbert, Phoenix, and Scottsdale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$13,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$905,961.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,208,830.09
Annual Debt Service$14,505,961.14
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