Contour Acquires Senior Housing Property In Southern California With $31.6M Loan
1735 South Mission Road, Fallbrook, CA, USA
$31,600,000
$213/SF
Building Size
148,104 SF
Asset Type
Other
Closing
Oct 19, 2021
AI
Contour has acquired a senior housing property located at 1735 South Mission Rd in Southern California. The property consists of 103 units with a total of 114 beds, spread across 3.4 acres. The transaction took place on October 19, 2021.
Summary of transation details
- Property Type: Senior Housing
- Transaction Amount: $31,600,000
- Loan Type: Acquisition & Mezzanine
- Loan Terms: Three-year, floating-rate bank loan & four-year, fixed-rate mezzanine loan
- Landlord: Contour
- Brokers: Alanna Ellis & Jeff Sause - JLL Capital Markets
The loan amount for the acquisition and mezzanine financing of the property is $31,600,000. The financing structure includes a three-year floating-rate bank loan and a four-year fixed-rate mezzanine loan.
Players
Fallbrook Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93