Aurora Health Network Acquires Nursing Facility In Margate For $16.9M
SOLD
$16,860,000
Florida
See Similar DealsOther62,994 SF
Sold 04/07/2022
SOLD
Aurora Health Network Acquires Nursing Facility In Margate For $16.9M
5951 Colonial Drive, Margate, Florida 33063, United States
See Similar DealsOther62,994 SF
Sold 04/07/2022
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$267
Total Square Footage:62,994 SF
Transaction Type:Sale
Located at 5951 Colonial Drive in Margate, the nursing facility involved in this closed transaction spans across 6.6 acres. With a total square footage of 62,994, the facility comprises 170 beds, resulting in a price per bed of $99,176. The sale price for this property was recorded at $16,860,000, equating to a price per square foot of $268.
Summary of transaction details
- Property Type: Nursing Facility
- Transaction Amount: $16,860,000
- Address: 5951 Colonial Drive, Margate
- Market: Margate
- Acres: 6.6
- Beds: 170
- Price per Bed: $99,176
- Square Footage: 62,994
- Price per Square Foot: $268
The buyer in this transaction was Aurora Health Network, while the seller was Omega Healthcare Investors. Popular Bank acted as the lender for this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$899,200.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$59,900.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$79,925.00
Annual Debt Service$959,100.02
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