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596 Courtland Boulevard

Candor Capital Acquires Medical Office Portfolio In Deltona, Orlando, Winter Springs, Longwood, And Sanford For $9.9M
SOLDMedical Office

Candor Capital Acquires Medical Office Portfolio In Deltona, Orlando, Winter Springs, Longwood, And Sanford For $9.9M

596 Courtland Boulevard

$9,915,000

$334/SF

Building Size

29,690 SF

Asset Type

Medical Office

Closing

Nov 29, 2022

AI

The medical office property located at 596 Cortland Boulevard, 1651 N Semoran Boulevard, 501 W. State Road 434, 181 Sabal Palm Drive, 955 W. State Road 434, 1403 Medical Plaza Drive, and 1601 Park Center Dr. has been sold. The transaction took place in Deltona, Orlando, Winter Springs, Longwood, and Sanford. The property, spanning a total of 29,690 square feet, was sold for a price of $9,915,000, equating to a price per square foot of $334.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $9,915,000
  • Square Footage: 29,690
  • Market: Deltona, Orlando, Winter Springs, Longwood, Sanford

The buyer of the property is Candor Capital, represented by Ben Meshel and Adam Ibrahim. The seller is The Vlass Group, with Mike Vlass acting as the representative. The transaction was facilitated by Jonathan Peranich from Peranich Huffman Net Lease Group.

Players

Jonathan Peranich

Peranich Huffman Net Lease Group

Broker

$22M

vol

4 deals

Broker
Ben Meshel

Ben Meshel

Candor Capital

Buyer

$185.2M

vol

15 deals

Buyer

Deltona Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.60%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93