JLL Capital Markets has closed the sale of Methodist Transitional Care, a 100-bed/ 66-unit skilled nursing facility in Desoto, Texas. Equipped with advanced technology, the facility has the ability to offer intravenous therapy, physical therapy, speech therapy, occupational therapy, wound care, pulmonary care and many other treatments and services. Madison Marquette sold this asset with 13 years remaining on the lease. Based on first-year rent, the cap rate is 6.8%. This deal also includes two five-year renewal options.
The buyer of the amenity-filled facility is real estate development firm Location Finders International. Such amenities include a large state-of-the-art therapy gym, resident dining area, full bathrooms with showers in all resident rooms, a fully outfitted commercial kitchen and a centrally located administration area with offices, storage and a conference room. Charles Bissell and Evan Kovac of JLL handled this transaction.
