Texas Senior Housing Value-Add Opportunity, Southwest Region

Property Description

Texas Senior Housing Value-Add Opportunity

New Senior Housing Facility

30 existing units.

New one-story, first class construction for independent seniors with 24 hour, on site home health care + medical services.

95% gross income guaranteed for 12 months after closing with cash as the title company.

Features a clubhouse with a general store, complete beauty salon, a massage room, surround sound movie theater, a business office and two leasing offices.

Included in the sale is a value-add opportunity to build another 60 Units in a Four (4) Story Building on piers in with verbal approval being granted by the County.

The only cost would be the actual construction since the land is paid for.

The parking lot is finished and the Club House is finished.

We have received the following loan quote:
Sales Price: $10,300,000.00
Loan: 80% = $8,240,000.00
Non Recourse Bridge
Interest Only= 350 over Libor 6% Interest
Discount: 1 Point
Term: 3 years (No Payoff Penalty with them doing the Freddie Mac Financing)
Annual Interest Cost est. = $494,400.00
This lender can do a bridge loan typically 350 +L, Interest Only. They can also do permanent debt.

A full price offer has been received from a buyer who is also a developer, however, the owner prefers to sell to a buyer who will allow the current owner (and developer) to develop the 60 units.

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Senior Housing Properties For Sale

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