Big Sky Medical Acquires Blackhawk Medical Center In Phoenix For $46M
20401 North 29th Avenue & 2902 Agua Fria Freeway
$46,000,000
$91/SF
Building Size
504,000 SF
Asset Type
Medical Office
Closing
Jan 4, 2024
AI
Big Sky Medical has acquired the 252,000-square-foot Blackhawk Medical Center in Phoenix, AZ for $46 million. The property is located at 20401 North 29th Avenue & 2902 Agua Fria Freeway. The medical office spans over 24 acres and was sold by ViaWest Group.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $46,000,000
- Address: 20401 North 29th Avenue & 2902 Agua Fria Freeway
- Market: Phoenix, AZ
- SF: 252,000
Jason Signor from Big Sky Medical represented the buyer in the deal, while Steven R. Schwarz from ViaWest Group represented the seller. The transaction was facilitated by brokers at Cushman & Wakefield: Alexandra Loye, Eric Wichterman, Mike Coover, and Steve Lindley. The lender for the transaction was Taconic Capital.
Players
Phoenix Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93