Medical Properties Trust Acquires Hialeah Medical Facility For $315M
SOLD
$315,000,000
Florida
See Similar DealsOther
Sold 08/16/2021
SOLD
Medical Properties Trust Acquires Hialeah Medical Facility For $315M
7100 West 20th Avenue, Hialeah, FL, USA
See Similar DealsOther
Sold 08/16/2021
Summary
FLORIDA
Asset Type:Other
Transaction Type:Sale
A medical facility located at 7100 West 20th Avenue, 7160 West 20th Avenue, and 2001 West 68th Street in Hialeah has been sold for a total of $315,000,000. The property was acquired by Medical Properties Trust, represented by Edward K. Aldag Jr. The seller of the facility was Tenet Healthcare, with Ronald Rittenmeyer representing them in the transaction.
Summary of transaction details
- Property Type: Medical Facility
- Transaction Amount: $315,000,000
- Address: 7100 West 20th Avenue, 7160 West 20th Avenue & 2001 West 68th Street, Hialeah
- Market: Hialeah
Edward K. Aldag Jr., representing Medical Properties Trust, successfully acquired the medical facility from Tenet Healthcare, with Ronald Rittenmeyer acting as the seller's representative. This transaction marks a significant deal in the medical property market, showcasing the investment potential in the Hialeah area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$16,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,119,128.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,493,260.71
Annual Debt Service$17,919,128.47
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