Wickshire Senior Living Acquires Senior Housing In Fort Lauderdale For $17.3M
SOLD
$17,300,000
Florida
See Similar Deals303,992 SF
Sold 10/08/2021
SOLD
Wickshire Senior Living Acquires Senior Housing In Fort Lauderdale For $17.3M
3201 West Commercial Boulevard, Fort Lauderdale, FL 33309, USA
See Similar Deals303,992 SF
Sold 10/08/2021
Summary
FLORIDA
Price Per Square Foot:$56
Total Square Footage:303,992 SF
Transaction Type:Sale
Wickshire Senior Living has acquired a senior housing property located at 2855 West Commercial Boulevard in Fort Lauderdale. The property, spanning 18 acres, was sold by Healthpeak Properties. The sale took place on October 8, 2021, for a total price of $17,300,000.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $17,300,000
- Address: 2855 West Commercial Boulevard, Fort Lauderdale
- Market: Fort Lauderdale
- Acres: 18
The senior housing property comprises a total of 293 units, resulting in a price per unit (PPU) of $59,044. With a total area of 303,992 square feet, the sale reflects a price per square foot (PPSF) of $57.
Representing Wickshire Senior Living in the transaction was Thomas Herzog of Healthpeak Properties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$922,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$61,463.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,010.83
Annual Debt Service$984,129.91
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