Updated Oct 28, 2024
Artemis Real Estate Partners, MorningStar Senior Living & American Capital Group Secure $40M Loan For 152-Unit Senior Housing In Kirkland, WA
11729 Northeast 118th Street, Kirkland, Washington 98034, United States
$40,000,000
Units
152
Asset Type
Other
Closing
Jun 8, 2022
About this deal
AI
The senior housing property located at 11729 NE 118th St in Kirkland, WA has recently been involved in a loan transaction. The property, which covers an area of 3.6 acres, consists of 152 units. The loan, amounting to $40,000,000, is a nonrecourse, floating-rate loan with full-term interest-only payments.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $40,000,000
- Address: 11729 NE 118th St
- Market: Kirkland, WA
- Units: 152
- Acres: 3.6
The deal was facilitated by the following individuals and companies: Aron Will and Tim Root from CBRE represented the landlords, which include Artemis Real Estate Partners, MorningStar Senior Living, and American Capital Group.
Players
Kirkland Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93