Elitecare Emergency Hospital Leases Medical Office Space At Victory Lakes Town Center
2860 South Gulf Freeway
Building Size
6,500 SF
Asset Type
Medical Office
Closing
Apr 29, 2024
AI
The medical office space located at 2860 South Gulf Freeway in League City has been leased by Elitecare Emergency Hospital, covering an area of 6,500 square feet. The property is situated in the Victory Lakes Town Center and the transaction was facilitated by NewQuest Properties.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not Applicable
- Address: 2860 South Gulf Freeway
- Market: League City
- Tenant: Elitecare Emergency Hospital
- Landlord's Rep: Kevin Sims & Nick Ramsey - NewQuest Properties
- Tenant's Rep: Walker Pennington - CBRE
The deal was brought to completion with Kevin Sims and Nick Ramsey of NewQuest Properties representing the landlord, while Walker Pennington of CBRE acted as the tenant's representative.
Players
League City Medical Office Market Snapshot
Boundary boundary · Medical Office · Lease 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