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481 Interstate Drive

Updated Dec 4, 2024

Coffee Medical Group Refinances Unity Medical Center With $21.25M Loan
FINANCEDHospital

Coffee Medical Group Refinances Unity Medical Center With $21.25M Loan

481 Interstate Drive

$21,250,000

Building Size

Asset Type

Hospital

Closing

Nov 16, 2023

About this deal

AI

Coffee Medical Group has secured a $21.25 million refinance for Unity Medical Center, the sole hospital serving the rural area of Manchester, Tennessee. Located at 481 Interstate Drive in Manchester, the hospital is a vital healthcare facility in the market. The loan amount of $21.25 million will support the continued operations and development of Unity Medical Center.

Summary of transation details

  • Property Type: Hospital
  • Transaction Amount: $21,250,000
  • Lender: X-Caliber Rural Capital - Jordan Blanchard
  • Landlord: Coffee Medical Group

X-Caliber Rural Capital, led by Jordan Blanchard, acted as the lender for this refinance transaction. Coffee Medical Group, as the landlord, successfully secured the $21.25 million loan to support Unity Medical Center. This refinance will enable the hospital to continue providing essential healthcare services to the rural community of Manchester, Tennessee.

Players

X-Caliber Rural Capital
X-Caliber Rural CapitalLender

Manchester Hospital Market Snapshot

Boundary boundary · Hospital · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.75%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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