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
$29,300,000
$2,310/SF
Building Size
12,681 SF
Asset Type
Other
Closing
May 11, 2020
About this deal
AI
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.
On the Map
$29,300,000
$2,310/SF
Other
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Players
Boynton Beach Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93