Fortress Investment Group Acquires Senior Facility In Boynton Beach, Delray Beach, And Boca Raton For $29.3M
SOLD
$29,300,000
Florida
See Similar DealsOther12,681 SF
Sold 05/11/2020
SOLD
Fortress Investment Group Acquires Senior Facility In Boynton Beach, Delray Beach, And Boca Raton For $29.3M
2400 South Congress Avenue, Boynton Beach, FL, USA
See Similar DealsOther12,681 SF
Sold 05/11/2020
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$2,310
Total Square Footage:12,681 SF
Transaction Type:Sale
A senior facility located at 2400 South Congress Avenue, 15020 East Tranquillity Lake Drive, and 9591 Yamato Road in Boynton Beach, Delray Beach, and Boca Raton has been sold for a total price of $29,300,000. The property spans across 12.6 acres and consists of 283 units, resulting in an average price per unit of $103,534 and an average price per acre of $2,325,397.
Summary of transaction details
- Property Type: Senior Facility
- Transaction Amount: $29,300,000
- Address: 2400 South Congress Avenue, 15020 East Tranquillity Lake Drive & 9591 Yamato Road
- Market: Boynton Beach, Delray Beach & Boca Raton
- Units: 283
- Price per Unit: $103,534
- Acres: 12.6
- Price per Acre: $2,325,397
The buyer of the property is Fortress Investment Group, while the seller is Healthpeak Properties represented by Thomas Herzog.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,562,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,096.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,896.95
Annual Debt Service$1,666,763.38
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