Medical Properties Trust Acquires Coral Gables Medical Facility From Tenet Healthcare For $276M
SOLD
$276,000,000
Florida
See Similar DealsOther
Sold 08/13/2021
SOLD
Medical Properties Trust Acquires Coral Gables Medical Facility From Tenet Healthcare For $276M
3100 Douglas Road, Coral Gables, FL, USA
See Similar DealsOther
Sold 08/13/2021
Summary
FLORIDA
Asset Type:Other
Transaction Type:Sale
A medical facility located at 3100 Douglas Road, 2541 Southwest 37th Avenue, and 9200 Northwest 11th Avenue in Coral Gables has been sold for $276,000,000. The property was purchased by Medical Properties Trust, represented by Edward K. Aldag, Jr. The seller of the facility was Tenet Healthcare.
Summary of transaction details:
- Property Type: Medical Facility
- Sale Price: $276,000,000
- Address: 3100 Douglas Road, 2541 Southwest 37th Avenue, and 9200 Northwest 11th Avenue, Coral Gables
- Market: Coral Gables
Edward K. Aldag, Jr. represented Medical Properties Trust as the buyer in this transaction. Tenet Healthcare served as the seller of the medical facility.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,719,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$980,569.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,308,380.81
Annual Debt Service$15,700,569.70
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