Alta Senior Living Acquires 58-Unit Palm Beach Memory Care Facility For $17M
639 US Route 1
$17,000,000
Building Size
—
Asset Type
Senior Housing
Closing
Jun 28, 2023
AI
Silver Cos. has sold the Palm Beach Memory Care facility in North Palm Beach, Florida, for $17 million. The facility, located at 639 US Route 1, sits on a 2.44-acre lot. It is a senior housing asset with a total of 58 units, resulting in a per unit price of $293,103.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $17,000,000
- Address: 639 US Route 1, North Palm Beach, Florida
- Market: North Palm Beach
- Acres: 2.44
An affiliate of Alta Senior Living purchased the Palm Beach Memory Care facility from Silver Cos. - Larry D. Silver.
Players
North Palm Beach 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93