Updated Oct 29, 2024
Alta Senior Living Acquires 58-Unit Palm Beach Memory Care Facility For $17M
639 US Route 1
$17,000,000
Units
58
Asset Type
Senior Housing
Closing
Jun 28, 2023
About this deal
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