Standard Communities Acquires Senior Housing In Atlantic City For $38M
SOLD
$38,000,000
New Jersey
See Similar DealsOther43,600 SF
Sold 04/22/2021
SOLD
Standard Communities Acquires Senior Housing In Atlantic City For $38M
1313 Baltic Ave, Atlantic City, NJ, USA
See Similar DealsOther43,600 SF
Sold 04/22/2021
Summary
NEW JERSEY
Asset Type:Other
Price Per Square Foot:$871
Total Square Footage:43,600 SF
Transaction Type:Sale
The senior housing property located at 1313 Baltic Ave in Atlantic City has been sold in a recent transaction. The sale was finalized on 04/22/2021.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $38,000,000
- Number of Units: 169
- Price per Unit: $224,852
The buyer of the property is Standard Communities, represented by Steven Kahn. Standard Communities acquired the senior housing asset at a total cost of $38,000,000. The property consists of 169 units, with a price per unit of $224,852.
Note: No additional information is available regarding the property or the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$135,005.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$180,139.39
Annual Debt Service$2,161,672.64
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