Updated Sep 11, 2026
Candor Capital Acquires Hospital In Erie, PA For $22M
1526 Peach St, Erie, PA 16501, United States
$22,000,000
$121/SF
Building Size
181,720 SF
Asset Type
Hospital
Closing
May 19, 2023
About this deal
AI
The Northgate Commons Hospital, located at 1526-1700 Peach Street in Erie, PA, has been sold in a recent transaction. The hospital spans approximately 181,720 square feet and was acquired by Candor Capital, represented by Ben Meshel and Adam Ibrahim. The property was sold by Greg Baldwin for a total price of $22,000,000, resulting in a price per square foot of $121.
Summary of transation details
- Property Type: Hospital
- Transaction Amount: $22,000,000
- Square Footage: 181,720
- Address: 1526-1700 Peach Street - Northgate Commons
- Market: Erie, PA
Ben Meshel and Adam Ibrahim, representing Candor Capital, successfully completed the purchase of the Northgate Commons Hospital. The deal was facilitated by Greg Baldwin, the seller. This transaction showcases the investment potential in the healthcare real estate sector in Erie, PA.
On the Map
$22,000,000
$121/SF
Hospital
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Players
Erie Hospital Market Snapshot
Boundary boundary · Hospital · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93