Excelsior Healthcare Group Acquires Nursing Home In Philadelphia For $40.5M
SOLD
$40,500,000
Pennsylvania
See Similar DealsOther170,000 SF
Sold 02/22/2022
SOLD
Excelsior Healthcare Group Acquires Nursing Home In Philadelphia For $40.5M
650 Edison Avenue, Philadelphia, Pennsylvania 19116, United States
See Similar DealsOther170,000 SF
Sold 02/22/2022
Summary
PENNSYLVANIA
Asset Type:Other
Price Per Square Foot:$238
Total Square Footage:170,000 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,887.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,990.66
Annual Debt Service$2,303,887.95
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