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9701 West Oakland Park Boul...

Portopiccolo Group Acquires Westchester Of Sunrise Assisted Living For $26.66M
SOLDSenior Housing

Portopiccolo Group Acquires Westchester Of Sunrise Assisted Living For $26.66M

9701 West Oakland Park Boulevard

$26,660,000

$208/SF

Building Size

127,846 SF

Asset Type

Senior Housing

Closing

Jan 24, 2024

AI

Todd Meredith of Healthcare Realty Trust sold The Westchester of Sunrise assisted living facility in Florida for $26.66 million. The sale was part of a larger portfolio deal, with the buyer being Simcha Hyman from Portopiccolo Group. The property, located at 9701 West Oakland Park Boulevard, covers an area of 9 acres in the Sunrise market. The facility offers senior housing and has a total square footage of 127,846. The price per square foot was $209.

Summary of transaction details

  • Property Type: Senior Housing
  • Transaction Amount: $26,660,000
  • Address: 9701 West Oakland Park Boulevard
  • Market: Sunrise
  • Acres: 9

Simcha Hyman, representing Portopiccolo Group, acted as the buyer in this transaction. Todd Meredith, from Healthcare Realty Trust, was the seller. The deal was financed by Oxford Finance. It is important to note that the sale of The Westchester of Sunrise was part of a larger portfolio deal, and Portopiccolo Group acquired it with the support of Oxford Finance.

Players

Simcha Hyman

Portopiccolo Group

Buyer

$68.2M

vol

2 deals

Buyer

Todd Meredith

Healthcare Realty Trust

Seller

$58M

vol

3 deals

Seller
Oxford Finance
Oxford FinanceLender

Sunrise Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93