FINANCED
Montecito Medical Acquires MOB Portfolio In Florida, Illinois & Pennsylvania For $50.3M Loan
Florida, United States
$50,300,000
$251,500/SF
Building Size
200 SF
Asset Type
—
Closing
Apr 17, 2023
AI
The MOB Portfolio, located in Florida, Illinois, and Pennsylvania, is a medical office property with a size of 200,000 square feet. The property was involved in a closed transaction.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $50,300,000
- Date: 02/24/2023
- Lender: First Citizens Bank
- Landlord: Montecito Medical - Chip Conk
In this deal, First Citizens Bank provided a loan amount of $50,300,000 for the MOB Portfolio. Montecito Medical, represented by Chip Conk, acted as the landlord in this transaction.
Players
Oxford CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93