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CareRite Acquires Nursing Facility In Miami For $33.4M - Mark Friedman, Bent Philipson, Jack Rajchenbach

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SOLD
$33,400,000

Florida

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Sold 11/22/2021
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Property Image
SOLD

CareRite Acquires Nursing Facility In Miami For $33.4M - Mark Friedman, Bent Philipson, Jack Rajchenbach

18905 Northeast 25th Avenue, Miami, FL, USA

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Other
Sold 11/22/2021
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Other
Transaction Type:Sale

Located in Miami, the nursing facility at 13900 Northeast Third Court & 18905 Northeast 25th Avenue has been sold in a recent transaction. The property covers an area of 7.3 acres and consists of 421 rooms, making it a substantial asset in the market. The sale has taken place on November 22, 2021.

Summary of transaction details

  • Property Type: Nursing Facility
  • Transaction Amount: $33,400,000
  • Address: 13900 Northeast Third Court & 18905 Northeast 25th Avenue
  • Market: Miami
  • Acres: 7.3
  • Rooms: 421

The buyer of the nursing facility is CareRite, represented by Mark Friedman and Bent Philipson. On the other hand, the seller is a collaboration between Claridge House Associates and Regents Park at Aventura Associates, with Jack Rajchenbach acting as their representative. This transaction paves the way for the transfer of ownership and management of the nursing facility.

Players

MF
Mark Friedman
4 deals$66.9M volume
BUYER
MF
Mark Friedman
4 deals$66.9M volume
BUYER
MF
Mark Friedman
4 deals$66.9M volume
BUYER

Details

SOLD
IMAGE: Mark Friedman DATE: 11/22/2021 ADDRESS: 13900 Northeast Third Court & 18905 Northeast 25th Avenue MARKET: Miami ASSET TYPE: Nursing Facility ~ ACRES: 7.3 ~ ROOMS: 421 BUYER: CareRite - Mark Friedman; Bent Philipson SELLER: Claridge House Associates & Regents Park at Aventura Associates - Jack Rajchenbach SALE PRICE: $33,400,000

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$118,663.15
Cash-on-Cash Return-1.27%
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