Excelsior Healthcare Group Acquires Nursing Home In Philadelphia For $40.5M
650 Edison Avenue, Philadelphia, Pennsylvania 19116, United States
$40,500,000
$238/SF
Building Size
170,000 SF
Asset Type
Other
Closing
Feb 21, 2022
AI
The nursing home located at 650 Edison Ave in Philadelphia, PA has been sold for a transaction amount of $40,500,000. The property spans over 170,000 square feet, resulting in a price per square foot of $238. The sale took place on February 22, 2022.
Summary of transaction details
- Property Type: Nursing Homes
- Transaction Amount: $40,500,000
- Address: 650 Edison Ave, Philadelphia, PA
- Market: Philadelphia, PA
The buyer of the nursing home is Excelsior Healthcare Group, represented by Joel Leifer. The seller, on the other hand, is a collaboration between Imperial Healthcare Group, led by Yisroel Herzka, and CW Realty, represented by Cheskie Weisz. Zevi Fried served as the broker in this transaction, facilitating the deal.
Players
Philadelphia Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93