FI Real Estate Capital Management Acquires Medical Office Building In Mission, Texas
909 Business Park Dr Mission, TX 78572, USA
Building Size
49,320 SF
Asset Type
Other
Closing
May 8, 2023
About this deal
AI
FI Real Estate Capital Management has acquired a 49,320-square-foot medical office building in Mission, Texas. The property, located near the Mexican border, offers a range of medical services. The acquisition price was undisclosed. Standard Insurance Co. provided a $4.7 million acquisition loan to facilitate the purchase. The transaction underscores the continued investor interest in the medical office sector, which has proven resilient during economic downturns.
Summary of transaction details:
- Property Type: Other
- Transaction Amount: Undisclosed
- Address: South Texas
- Market: Not specified
- Buyer: FI Real Estate Capital Management
- Seller: Not specified
- Brokers: Alex Wenzel, Gustavo Torres
The acquisition of the medical office building was financed through a $4.7 million acquisition loan provided by Standard Insurance Co. The property's location near the Mexican border adds to its appeal. The medical office sector has remained attractive to investors due to its resilience during economic downturns, making this acquisition a strategic move for FI Real Estate Capital Management.
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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