Lone Star Funds Acquires Senior Living Assets In Palm Beach & Boca Raton For $56.9M
100 Discovery Way, Palm Beach Gardens, FL, USA
$56,900,000
$184/SF
Building Size
307,739 SF
Asset Type
Other
Closing
Jun 2, 2021
AI
The sale of a senior living property in Palm Beach and Boca Raton has been completed. The property is located at 100 Discovery Way and 6061 Palmetto Circle North. The transaction took place on June 3, 2021, with a sale price of $56,900,000.
Summary of transaction details
- Property Type: Senior Living
- Transaction Amount: $56,900,000
- Units: 339
- Price Per Unit: $167,847
- Square Footage: 307,739
- Price Per Square Foot: $185
- Market: Palm Beach & Boca Raton
The buyer for this transaction was Lone Star Funds, represented by John Grayken. The seller was Healthpeak Properties, represented by Thomas Herzog. The property comprises 339 units and spans a total of 307,739 square feet. Each unit was sold at an average price of $167,847, while the price per square foot was $185. This sale marks a significant transaction in the senior living market in Palm Beach and Boca Raton.
Players
Palm Beach Gardens Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93