Updated Dec 4, 2024
Ignite Medical Resorts Acquires Senior Housing Property In Katy With Blueprint Brokers
1222 Park West Green Drive
Units
78
Asset Type
Senior Housing
Closing
Apr 25, 2024
About this deal
AI
A 78-unit seniors housing property in Katy, a western Houston suburb, was recently sold. The property consists of 70 short-term rehab beds and 34 assisted living beds. It was opened in 2018 and is located at 1222 Park West Green Drive.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: Not provided
- Buyer: Tim Fields - Ignite Medical Resorts
- Brokers: Amy Sitzman, Giancarlo Riso & Michael Segal - Blueprint Healthcare Real Estate Advisors
Blueprint Healthcare Real Estate Advisors facilitated the sale of the seniors housing property. The property was acquired by Ignite Medical Resorts from a privately held investment and development firm. The sale was brokered by Amy Sitzman, Michael Segal, and Giancarlo Riso of Blueprint.
Players
Katy Senior Housing Market Snapshot
Boundary boundary · Senior Housing · 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