Updated Oct 29, 2024
Healthcare REIT Welltower Acquires 15-acre Medical Office Campus In Beaumont, CA From Loma Linda University
81 Highland Springs Ave Beaumont, CA 92223, USA
$37,900,000
$396/SF
Building Size
95,590 SF
Asset Type
Medical Office
Closing
Aug 7, 2023
About this deal
AI
Healthcare REIT Welltower has acquired a medical office campus in Southern California from Loma Linda University for $37.9 million. The campus, located at 81 Highland Springs Avenue in Beaumont, spans 15 acres and comprises a total of 95,590 square feet. The Class A campus is currently 78% leased and houses multiple medical departments and facilities.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $37,900,000
- Address: 81 Highland Springs Avenue, Beaumont
- Market: Beaumont
- Acres: 15
- SF: 95,590
- Buyer: Welltower - Swagat Banerjee
- Seller: Loma Linda University
- Brokers: Lon Mapes - LDM Commercial; CBRE
The deal was facilitated by Lon Mapes from LDM Commercial and CBRE. Welltower, a healthcare real estate investment trust, made the acquisition to expand its portfolio in the medical office space. Loma Linda University, the seller in the transaction, recognized the opportunity to divest this asset while ensuring the continued delivery of quality healthcare services at the campus.
On the Map
$37,900,000
$396/SF
Medical Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93