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Fengate Acquires 57,000 Square Foot Medical Office In Germantown, TN For $25.3 Million From Montecito Medical
SOLD
$25,300,000
Tennessee
See Similar DealsMedical Office
Sold 11/26/2025
SOLD
Fengate Acquires 57,000 Square Foot Medical Office In Germantown, TN For $25.3 Million From Montecito Medical
8060 Wolf River Boulevard
See Similar DealsMedical Office
Sold 11/26/2025
Summary
TENNESSEE
Asset Type:Medical Office
Transaction Type:Sale
A 57,000-square-foot medical office building located at 8060 Wolf River Boulevard in Germantown, TN, has been sold for $25.3 million, equating to $443.86 per square foot. The property is currently leased to Stern Cardiovascular and was sold by an LLC affiliated with Montecito Medical Real Estate.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $25,300,000
- Buyer: Fengate
- Seller: Montecito Medical Real Estate
- Market: Memphis, TN
An affiliate of Fengate represented the buyer in this transaction, furthering their investment in the medical real estate sector. The acquisition of this property aligns with their portfolio strategy in the healthcare property market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,349,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$89,885.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$119,934.91
Annual Debt Service$1,439,218.89
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