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Naftali Weiss And Joshua Fogel Acquire Jupiter Rehabilitation And Healthcare Center For $19.2M
SOLD
$19,200,000
Florida
See Similar DealsNursing Home32,969 SF
Sold 02/28/2025
SOLD
Naftali Weiss And Joshua Fogel Acquire Jupiter Rehabilitation And Healthcare Center For $19.2M
17781 Thelma Avenue
See Similar DealsNursing Home32,969 SF
Sold 02/28/2025
Summary
FLORIDA
Asset Type:Nursing Home
Price Per Square Foot:$582
Total Square Footage:32,969 SF
Transaction Type:Sale
The property asset involved in the transaction is a nursing home located at 17781 Thelma Avenue in Jupiter, Florida. The nursing home features 120 beds and spans across 5 acres. The sale was executed for a price of $19,200,000, translating to a price per square foot of $582 for its total area of 32,969 square feet.
Summary of transaction details:
- Property Type: Nursing Home
- Transaction Amount: $19,200,000
- Address: 17781 Thelma Avenue
- Market: Jupiter
- BEDS: 120
- ACRES: 5
- Buyer: Naftali Weiss & Joshua Fogel - FL Realty
- Seller: Mark Friedman - CareRite Centers
- Lender: Merchants Bank of Indiana
- Price per Bed: $160,000
A New Jersey-based group led by Naftali Weiss and Joshua Fogel facilitated the purchase through FL Realty. The loan for the transaction was secured from Merchants Bank of Indiana, amounting to $15.44 million. This purchase represents a significant appreciation from the property's previous sale price of $12 million in 2016, indicating a robust demand for nursing home care in Palm Beach County.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,024,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54
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