Updated Nov 5, 2026
Shankh Mitra Of Welltower Acquires Nursing Home On Bass Creek Road For $49.09M
15955 Bass Creek Road
$49,090,000
$570/SF
Building Size
86,009 SF
Asset Type
Nursing Home
Closing
Nov 5, 2026
About this deal
AI
The 120-bed Glades West Rehab & Nursing Center, situated at 15955 Bass Creek Road in Miramar, FL, was acquired for $49,090,000. The nursing facility spans 86,009 square feet and is located on a 3.7-acre site, having been built in 2015. The transaction reflects a price of approximately $409,083 per bed and is notable as the facility's first sale since its opening.
Summary of transaction details:
- Property Type: Nursing Home
- Transaction Amount: $49,090,000
- Address: 15955 Bass Creek Road
- Market: Miramar, FL
- Beds: 120
- Square Footage: 86,009
- Price Per Square Foot: $571
- Acres: 3.7
- Buyer: Shankh Mitra - Welltower
- Seller: David Katz - TL Management
An affiliate of Welltower was responsible for the acquisition of the nursing home, marking a significant involvement of Shankh Mitra in this transaction. The previous owner, David Katz of TL Management, facilitated the sale, contributing to the transfer of this healthcare asset in the Florida market.
On the Map
$49,090,000
$570/SF
Nursing Home
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Players
Rudd Nursing Home Market Snapshot
Boundary boundary · Nursing Home · Sale transactions
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Deal FAQ
About $570 per square foot on a published $49.1M for 86,009 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93