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JLL Represents Seller In $45 Million Sale Of HarborChase Of Wilmington Senior Housing
SOLD
$45,000,000
+ 3
Delaware
See Similar DealsSenior Housing
Sold 10/19/2024
SOLD
JLL Represents Seller In $45 Million Sale Of HarborChase Of Wilmington Senior Housing
2004 Shipley Road
See Similar DealsSenior Housing
Sold 10/19/2024
+ 3
Summary
DELAWARE
Asset Type:Senior Housing
Transaction Type:Sale
HarborChase of Wilmington, located at 2004 Shipley Road in Wilmington, DE, is a senior housing asset consisting of 96 luxury units designed for assisted living and memory care. The property was sold for $45 million, resulting in a price per unit of $468,750.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $45,000,000
- Units: 96
- Price Per Unit: $468,750
- Date of Sale: 10/19/2024
- Market: Wilmington, DE
The transaction involved multiple brokers from JLL, including Aaron Rosenzweig, Blaise Fletcher, Jay Wagner, Richard Swartz, Caroline McClelland, and Sean Kirk, who represented the seller, a private equity firm, in concluding the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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