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Passco Companies, LLC Acquires Senior Housing In Knoxville, TN For $49.5M

Property Image
SOLD
$49,500,000
Richard (Rick) Swartz
Jay Wagner

Tennessee

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163 SF
Sold 04/01/2023
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Property Image
SOLD

Passco Companies, LLC Acquires Senior Housing In Knoxville, TN For $49.5M

1932 Falling Waters Road, Knoxville, Tennessee 37922, United States

See Similar Deals
163 SF
Sold 04/01/2023
Richard (Rick) Swartz
Jay Wagner
the dealplayerscompscontact
Contact now

Summary

TENNESSEE
Price Per Square Foot:$303,681
Total Square Footage:163 SF
Transaction Type:Sale

The senior housing property located at 1932 Falling Waters Road in Knoxville, TN has been sold in a transaction valued at $49,500,000. The property spans a total area of 163,000 square feet and was sold at a price of $304 per square foot.

Summary of transation details

  • Property Type: Senior Housing
  • Transaction Amount: $49,500,000
  • Address: 1932 Falling Waters Road
  • Market: Knoxville, TN
  • Buyer: Passco Companies, LLC
  • Seller: Prime West Knoxville
  • Brokers: Richard Swartz, Jay Wagner, Dan Baker, Aaron Rosenzweig & Bailey Nygard - Cushman & Wakefield
  • Square Footage: 163,000
  • Price per Square Foot: $304

The transaction was facilitated by Richard Swartz, Jay Wagner, Dan Baker, Aaron Rosenzweig, and Bailey Nygard of Cushman & Wakefield, representing the buyer and seller in the deal.

Players

Jay Wagner
JLL
Jay Wagner
11 deals$1.5B volume(617) 204-5911
BROKER
Richard (Rick) Swartz
JLL
Richard Swartz
10 deals$996.5M volume
BROKER
PL
Passco Companies, LLC
BUYER

Details

SOLD
IMAGE: Richard Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker & Bailey Nygard DATE: 01/04/2023 ADDRESS: 1932 Falling Waters Road MARKET: Knoxville, TN ASSET TYPE: Senior Housing BUYER: Passco Companies, LLC SELLER: Prime West Knoxville BROKERS: Richard Swartz, Jay Wagner, Dan Baker, Aaron Rosenzweig & Bailey Nygard - Cushman & Wakefield SALE PRICE: $49,500,000 SF: 163,000 ~ PPSF: $304

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,640,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$175,863.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,655.25
Annual Debt Service$2,815,863.04