Harrison Real Estate Capital And LCB Senior Living Acquire Senior Housing In Watertown For $48M
SOLD
$48,000,000
Massachusetts
See Similar DealsOther94,171 SF
Sold 03/02/2021
SOLD
Harrison Real Estate Capital And LCB Senior Living Acquire Senior Housing In Watertown For $48M
20 Summer Street, Watertown, Massachusetts, USA
See Similar DealsOther94,171 SF
Sold 03/02/2021
Summary
MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$509
Total Square Footage:94,171 SF
Transaction Type:Sale
20 Summer Street, located in Watertown, MA, has been sold in a recent transaction. This senior housing property, owned by Healthpeak Properties Inc., was acquired by Harrison Real Estate Capital and LCB Senior Living for a total sale price of $48,000,000. The property consists of 90 units, resulting in a per unit price of $533,333.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $48,000,000
- Address: 20 Summer Street, Watertown, MA
- Seller: Healthpeak Properties Inc. - Thomas Herzog
- Buyer: Harrison Real Estate Capital & LCB Senior Living
- Units: 90
- Price Per Unit (PPU): $533,333
This deal was brokered by Thomas Herzog from the seller's side, representing Healthpeak Properties Inc., while Harrison Real Estate Capital and LCB Senior Living were represented internally. The sale of the senior housing property marks a significant transaction in the market, showcasing the demand for such assets in Watertown, MA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,560,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$170,533.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$227,544.49
Annual Debt Service$2,730,533.86
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