Aurora Health Network Acquires Nursing Facility In Margate For $16.9M
5951 Colonial Drive, Margate, Florida 33063, United States
$16,860,000
$267/SF
Building Size
62,994 SF
Asset Type
Other
Closing
Apr 6, 2022
About this deal
AI
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.
Players
Margate Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93