MedProperties Acquires PAM Health Rehabilitation Hospital In Nokomis For $34.3M
2639 Curry Lane
$34,300,000
$686/SF
Building Size
50,000 SF
Asset Type
Hospital
Closing
Jan 21, 2024
About this deal
AI
Dallas private equity firm MedProperties has purchased the newly constructed PAM Health Rehabilitation Hospital of Venice in south Sarasota County for $34.3 million. The 50,000 sq ft facility, located near Sarasota Memorial Hospital’s Venice campus, was previously owned by an LLC linked to Catalyst Health Care Real Estate.
Summary of transaction details
- Property Type: Hospital
- Transaction Amount: $34,300,000
- Square Footage: 50,000 sq ft
- Price per Square Foot: $686
- Date: 01/21/2024
- Address: 2639 Curry Lane, Nokomis
- Buyer: Darryl E. Freling - MedProperties
- Seller: Chad Henderson - Catalyst Health Care Real Estate
MedProperties, a Dallas private equity firm, has acquired the newly constructed PAM Health Rehabilitation Hospital of Venice in south Sarasota County. The 50,000 sq ft facility was sold for $34.3 million. Located near Sarasota Memorial Hospital’s Venice campus, the hospital was previously owned by an LLC associated with Catalyst Health Care Real Estate.
On the Map
$34,300,000
$686/SF
Hospital
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Players
Nokomis Hospital Market Snapshot
Boundary boundary · Hospital · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93