Atria Senior Living Secures $52 Million Refinance For 168-Unit Senior Housing In Newport Beach
393 Hospital Road
$52,000,000
Building Size
—
Asset Type
Senior Housing
Closing
Aug 15, 2024
AI
Atria Newport Beach is a 168-unit senior living community located at 393 Hospital Road in Newport Beach, California. The property involved in this transaction is primarily focused on providing housing for seniors.
Summary of transation details:
- Property Type: Senior Housing
- Transaction Amount: $52,000,000
- Lender: MidCap Financial
- Landlord: Atria Senior Living
- Brokers: Aaron Rosenzweig & Dan Baker - JLL
- Loan Type: Refinance
This refinancing was facilitated through a partnership between Atria Senior Living and a national real estate investment trust (REIT). JLL Capital Markets played a pivotal role in securing the loan on behalf of Atria Senior Living.
Players
Newport Beach Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93