Montecito Medical Real Estate Acquires Medical Facility In Corpus Christi With Matthews Real Estate
3226 South Alameda Street, Corpus Christi, TX, USA
Building Size
28,517 SF
Asset Type
Other
Closing
Aug 19, 2020
About this deal
AI
The property asset involved in this transaction is a medical facility located at 3226 South Alameda Street & 2825 Spohn South Drive in Corpus Christi. The facility spans a total of 28,517 square feet, offering a significant space for medical services in the area.
Summary of transaction details:
- Property Type: Medical Facility
- Transaction Amount: Not disclosed
- Square Footage: 28,517
- Address: 3226 South Alameda Street & 2825 Spohn South Drive
- Market: Corpus Christi
- Buyer: Montecito Medical Real Estate
- Brokers: Michael Moreno, Kyle Mackulak & Rahul Chhajed - Matthews Real Estate
The deal features Montecito Medical Real Estate as the buyer of the medical facility. The transaction was facilitated by brokers Michael Moreno, Kyle Mackulak, and Rahul Chhajed, who are affiliated with Matthews Real Estate, representing the interested parties in the deal.
Players
Corpus Christi Other Market Snapshot
Boundary boundary · Other · 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