Updated Apr 11, 2025
Pete Mavoides Of Essential Properties Acquires Medical Offices In Leesburg Mount Dora Umatilla For $23.2M
8135 Centralia Court
$23,200,000
Building Size
—
Asset Type
Medical Office
Closing
Apr 4, 2025
About this deal
AI
The transaction involves the sale of seven medical office properties located at 8135 Centralia Court, 4700 That Street, 18540 U.S. Highway 441, 4685 County Road 19A, 1801 U.S. Highway 441, 18550 U.S. Highway 441, and 390 South Central Avenue. The properties are situated within the Leesburg, Mount Dora, and Umatilla markets, reflecting the increasing demand for medical facilities in the area. Gator 25 LLC, associated with Essential Properties, completed the acquisition for a total of $23.2 million.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $23,200,000
- Buyer: Pete Mavoides - Essential Properties
- Seller: Sidney Morgan - Aegis Medical Group
- Market: Leesburg, Mount Dora & Umatilla
Gator 25 LLC's purchase is indicative of the trend in Lake County, where population growth and a demand for expanded healthcare services have fueled interest in medical office real estate investments. The deal signifies the ongoing strategy of Essential Properties to enhance their portfolio in the medical sector.
On the Map
$23,200,000
Medical Office
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Leesburg 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
0.68%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93