Ventas Acquires Medical Office In Plano For $58M
5120 Legacy Drive, Plano, TX 75024, USA
$58,000,000
$570/SF
Building Size
101,608 SF
Asset Type
Office
Closing
Dec 6, 2021
About this deal
AI
The medical office located at 5120 Legacy Dr in Plano has been sold in a transaction valued at $58,000,000. The property, with a total area of 101,608 square feet, was recently purchased by Ventas from Cawley Partners. This medical office, situated in the Plano market, offers a prime location for healthcare services. With a price per square foot of $571, it represents a significant investment opportunity.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $58,000,000
- Address: 5120 Legacy Dr
- Market: Plano
- Buyer: Ventas
- Seller: Cawley Partners
- Brokers: Travis Ives & Gino Lollio - Cushman & Wakefield
- Size: 101,608 square feet
- Price per Square Foot: $571
Travis Ives and Gino Lollio from Cushman & Wakefield played a crucial role in facilitating the sale. Their expertise and negotiation skills contributed to the successful completion of this transaction. The involvement of these brokering professionals ensures that the interests of both the buyer, Ventas, and the seller, Cawley Partners, were well-represented throughout the deal.
On the Map
$58,000,000
$570/SF
Office
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Players
Plano Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93