Providence Group Acquires Nursing Facility In Concord For $20M
SOLD
$20,000,000
California
See Similar DealsOther49 SF
Sold 01/09/2023
SOLD
Providence Group Acquires Nursing Facility In Concord For $20M
1050 San Miguel Road, Concord, California 94518, United States
See Similar DealsOther49 SF
Sold 01/09/2023
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$408,163
Total Square Footage:49 SF
Transaction Type:Sale
The Nursing Facility located at 1050 San Miguel Road in Concord has been sold for a price of $20,000,000. The property spans 49,000 square feet, resulting in a price per square foot of $408. It offers a total of 190 beds, with a price per bed of $105,263. The transaction took place on January 9, 2023.
Summary of transaction details:
- Property Type: Nursing Facility
- Transaction Amount: $20,000,000
- Address: 1050 San Miguel Road, Concord
- Market: Concord
The buyer in this transaction is Providence Group, represented by Jason Murray. The seller is San Miguel Family Holdings, owned by Mark & Linda Callaway.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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