CareRite Acquires Nursing Facility In Miami For $33.4M - Mark Friedman, Bent Philipson, Jack Rajchenbach
18905 Northeast 25th Avenue, Miami, FL, USA
$33,400,000
Building Size
—
Asset Type
Other
Closing
Nov 22, 2021
AI
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
Miami Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93