Remedy Medical Properties Acquires Project Prism Medical Office Portfolio For $131M
Texas, United States
$131,000,000
$436,666/SF
Building Size
300 SF
Asset Type
—
Closing
Apr 1, 2023
About this deal
AI
The Project Prism Medical Office Portfolio in the United States has been sold for $131,000,000. The property, which is a Medical Office asset, spans 300,328 square feet and has a price per square foot of $436.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $131,000,000
- Address: Project Prism Medical Office Portfolio
- Market: United States
The buyer of the property is Remedy Medical Properties, represented by Joe Magliochetti and Kayne Anderson Real Estate. The seller is Montecito Medical Real Estate. JLL acted as the broker for the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93