Updated Dec 27, 2024
Four Corners Property Trust Acquires Medical Office Properties From Riverview Hospital For $13.5M
205 Noble Creek Drive & 865 Westfield Road
$13,500,000
$206/SF
Building Size
32,744 SF
Asset Type
Medical Office
Closing
Dec 24, 2024
About this deal
AI
The transaction involved a medical office asset located at 205 Noble Creek Drive and 865 Westfield Road in Noblesville, IN. The properties were sold for $13,500,000, encompassing a total area of 32,744 square feet, resulting in a price per square foot of $412.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $13,500,000
- Square Footage: 32,744
- Sale Cap Rate: 7.3%
- Buyer: Four Corners Property Trust
- Seller: Riverview Hospital
- Broker: Christian Vaughan - NorthMarq
Christian Vaughan from NorthMarq represented the interests of Riverview Hospital in this sale-leaseback transaction, successfully facilitating the deal for the two outpatient primary care properties.
Players
Noblesville 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93