Updated Nov 28, 2024
AEW Capital Management Acquires Medical Office Portfolio In Texas, Arizona, Florida, Illinois, Michigan, Missouri & Tennessee For $80M
Texas
$80,000,000
$549/SF
Building Size
145,561 SF
Asset Type
Medical Office
Closing
Dec 5, 2022
About this deal
AI
A portfolio of medical office assets has been sold for a total of $80,000,000. The properties are located in Texas, Arizona, Florida, Illinois, Michigan, Missouri, and Tennessee. The total square footage of the portfolio is 145,561, resulting in a price per square foot of $550.
Summary of transaction details:
- Property Type: Medical Office
- Sale Price: $80,000,000
- Square Footage: 145,561
- Price Per Square Foot: $550
- Market: Texas, Arizona, Florida, Illinois, Michigan, Missouri & Tennessee
The buyer of the portfolio is AEW Capital Management L.P. and Flagship Healthcare Trust, represented by J. Brannen Edge III. Fifth Third Bank served as the lender in this transaction.
This sale represents a significant investment in the medical office sector across multiple states. The buyer and lender involved in this deal have demonstrated a confidence in the market and potential for future growth in these regions.
On the Map
$80,000,000
$549/SF
Medical Office
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Players
Pretoria Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93