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Stephen A. Schwarzman Of Blackstone Acquires Senior Housing In Lake Barrington For $50M
SOLD
$50,000,000
Illinois
See Similar DealsSenior Housing
Sold
SOLD
Stephen A. Schwarzman Of Blackstone Acquires Senior Housing In Lake Barrington For $50M
22320 Classic Court
See Similar DealsSenior Housing
Sold
Summary
ILLINOIS
Asset Type:Senior Housing
Transaction Type:Sale
The property asset involved in this transaction is a 192-unit senior housing community located at 22320 Classic Court in Lake Barrington, which has a sale price of $50,000,000. This senior living community is noted for its location in the Lake Barrington market.
Summary of transation details:
- Property Type: Senior Housing
- Transaction Amount: $50,000,000
- Buyer: Stephen A. Schwarzman
- Buyer's Company: Blackstone
- Seller: Rick Matros
- Seller's Company: Sabra Health Care REIT, Inc.
- Units: 192
- Price Per Unit: $260,417
Rick Matros represented Sabra Health Care REIT, Inc. in the sale of the property, which was previously acquired by Blackstone for $73 million in 2017. This transaction reflects significant market shifts, as it occurred following occupancy struggles after the pandemic.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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