Palomar Health Sells Medical Office In Poway For $100M
SOLD
$100,000,000
California
See Similar DealsOffice160,000 SF
Sold 06/03/2020
SOLD
Palomar Health Sells Medical Office In Poway For $100M
15611 Pomerado Rd, Poway, CA, USA
See Similar DealsOffice160,000 SF
Sold 06/03/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$625
Total Square Footage:160,000 SF
Transaction Type:Sale
The medical office located at 15611 Pomerado Rd. in Poway has been sold for a total price of $100,000,000. The property spans across 160,000 square feet, resulting in a price per square foot of $625. This transaction was completed on 06/03/2021.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $100,000,000
- Address: 15611 Pomerado Rd.
- Market: Poway
The seller of the medical office space was Palomar Health, specifically represented by Diane Hansen. The brokerage team from Cushman & Wakefield, consisting of Travis Ives, Gino Lollio, Scott Niedergang, and Joe Zurek, facilitated the sale of the property.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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