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Vasileios Sfyris Acquires Senior Housing Asset In Wickliffe For $13M
SOLD
$13,000,000
Senior Housing
Sold 04/30/2024
SOLD
Vasileios Sfyris Acquires Senior Housing Asset In Wickliffe For $13M
28500 Euclid Avenue
See Similar DealsSenior Housing
Sold 04/30/2024
Summary
OHIO
Asset Type:Senior Housing
Transaction Type:Sale
Located at 28500 Euclid Avenue in Wickliffe, Ohio, the asset involved in this transaction is a Senior Housing property known as Prosper at Wickliffe. The 160-unit assisted living facility was purchased for $13,000,000, resulting in a price per unit of $81,250.
Summary of transation details:
- Property Type: Senior Housing
- Transaction Amount: $13,000,000
- Address: 28500 Euclid Avenue
- Market: Wickliffe, Ohio
- Buyer: Vasileios Sfyris - Phorcys Capital Partners
- Buyer's Representation: Phorcys Capital Partners
- Asset Managed By: Prosper Life Care
Phorcys Capital Partners, representing Phorcys Senior Housing Recovery Fund LP, completed the acquisition of Prosper at Wickliffe through a trustee-directed short sale. The property will be under the management of Prosper Life Care post-acquisition.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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