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Bruce A. Beal Of Related Beal Acquires Senior Housing In Chelsea For $23M
SOLD
$23,000,000
Massachusetts
See Similar DealsSenior Housing
Sold 07/12/2024
SOLD
Bruce A. Beal Of Related Beal Acquires Senior Housing In Chelsea For $23M
154 Pearl Street
See Similar DealsSenior Housing
Sold 07/12/2024
Summary
MASSACHUSETTS
Asset Type:Senior Housing
Transaction Type:Sale
An 80-unit affordable senior living community located at 154 Pearl Street in Chelsea, MA has been sold for $23,000,000. The buyer of the property is Bruce A. Beal of Related Beal. The transaction reflects a price per unit of $287,500.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $23,000,000
- Units: 80
- Price Per Unit: $287,500
- Address: 154 Pearl Street
- Market: Chelsea, MA
Related Beal has successfully acquired The Greenhouse, expanding its portfolio in senior housing. This deal signifies the strategic investment approach of Bruce A. Beal and Related Beal in the affordable senior living sector.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,226,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81
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