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27 South Cooks Bridge Road

Horizon Equities Acquires Jackson Health Village Medical Office Building For $24M
SOLDMedical Office

Horizon Equities Acquires Jackson Health Village Medical Office Building For $24M

27 South Cooks Bridge Road

$24,000,000

$160/SF

Building Size

150,000 SF

Asset Type

Medical Office

Closing

Jan 4, 2024

AI

Horizon Equities has acquired the 150,000-square-foot Jackson Health Village medical office building in Ocean County for $24 million. The three-story facility, located at 27 South Cooks Bridge Road in Jackson, sits on 11 acres of land. With a 64% occupancy rate, the medical office building strengthens Horizon's healthcare portfolio in the region and complements their existing holdings in Ocean County.

Summary of Transaction Details:

  • Property Type: Medical Office
  • Transaction Amount: $24,000,000
  • Address: 27 South Cooks Bridge Road, Jackson
  • Market: Jackson
  • Acres: 11

The buyer, Joe Kotler from Horizon Equities, led the acquisition of the Jackson Health Village medical office building. The deal was facilitated by brokers from JLL, including Daniel Loughlin, Jeremy Neuer, Jose Cruz, Matt Loughlin, and Tom Stanton.

Players

Jeremy Neuer

JLL

Broker

$1.9B

vol

45 deals

Broker
Joe Kotler

Joe Kotler

Horizon Equities

Buyer

$207.9M

vol

7 deals

Buyer

Jackson 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

0.66%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93