Ardent Health Services Sells Medical Office Portfolio In Kansas & Texas For $Undisclosed
2801 US Route 271, Pittsburg, Texas 75686, United States
Building Size
762,780 SF
Asset Type
—
Closing
Mar 29, 2022
AI
Ardent Health Services has sold a medical office portfolio consisting of multiple properties in Topeka, Kansas and Tyler, Flint, Athens, Gun Barrel City, Jacksonville, Rusk, Mineola, and Pittsburg, Texas. The portfolio includes the following addresses: 631 SW Horne St, 634 SW Mulvane St, 721 Clinic Dr, 700 Olympic Plaza, 701 Olympic Plaza, 1100 E. Lake, 18118 FM 344 W, 117 Medical Circle, 115 Medical Circle, 1801 S. Palestine, 170 Municipal Dr, 100 Municipal Dr, 203 Nacogdoches, 414 S. Main St, 1325 N. Dickinson Dr, 1616 N. Pacific St., and 2801 US Hwy 271 N. The total square footage of the medical office properties is 762,780 square feet.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: Not available
- Market: Topeka, Kansas & Tyler, Flint, Athens, Gun Barrel City, Jacksonville, Rusk, Mineola & Pittsburg ,Texas
The sale of the medical office portfolio was facilitated by Brian Bacharach, Mindy Berman, and Vasili Davos from JLL.
Players
Pittsburg CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93