facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

California

/

Nursing Home

/

Sale

/

500 Jessie Avenue

Utah-based Operator Acquires North Sacramento Nursing Home For $36M
SOLDNursing Home

Utah-based Operator Acquires North Sacramento Nursing Home For $36M

500 Jessie Avenue

$36,000,000

$1,079/SF

Building Size

33,355 SF

Asset Type

Nursing Home

Closing

Jan 8, 2024

AI

A skilled nursing facility in North Sacramento, located at 500 Jessie Avenue, has been sold in a closed property transaction. The property, known as Norwood Pines Care Center, specializes in memory care and long-term assisted living. The buyer, Jason Murray of Providence Administrative Consulting Services, acquired the facility for a total sale price of $36 million. The sale took place on January 8, 2024. The facility has a total area of 33,355 square feet and a price per square foot of $1,079. The seller, Abraham Bak, represented 500 Jessie Avenue LLC in the transaction.

Summary of transaction details

  • Property Type: Nursing Home
  • Transaction Amount: $36,000,000
  • Address: 500 Jessie Avenue, Sacramento
  • Buyer: Jason Murray - Providence Administrative Consulting Services
  • Seller: Abraham Bak - 500 Jessie Avenue LLC
  • Square Feet: 33,355
  • Price per Square Foot: $1,079

Providence Administrative Consulting Services, based in Utah, is an operator of over 100 skilled nursing centers across the United States. This acquisition adds North Pointe Care Center, the rebranded name of the Norwood Pines Care Center, to their portfolio of properties.

Players

Jason Murray

Buyer

$117.6M

vol

3 deals

Buyer

Sacramento Nursing Home Market Snapshot

Boundary boundary · Nursing Home · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.44%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93