DealStream Logo

Details

Feb 23, 2018Off Market. - Bank Owned Selling below value.

This Smells Money.

Medical Practitioners - Investors - Speculators.

Buy at .50 on the Dollar

Bank Owned

San Antonio, Texas

The medical center cost about $100M to build and is currently valued at $100M+. It consists of an office building, hospital outpatient center, and parking. It is on about 8.5 acres. Purchase price will likely be around $45 to 50 million - we would suggest a low ball all cash offer with a quick close for $35M. Note equipment on site is leased and is not part of the sale.

The story on this property is the doctors and operators only conducted business there for about a year and this period was spent under huge mismanagement. Reckless spending and poor business decisions led to a bank foreclosure.

The bank lent $68M and held first position, and foreclosed. The bank had a UCC on all the equipment which everything remains on premises. The facilities are maintained, all electricity remains on as well as air conditioning. In the office building, there are still 5 physicians as tenants.

Qualified Buyers Only, Must have POF's w/LOI for all offers
Must complete NDA to start the process. 3% Buyers Commission

Sign up today to learn more about this listing and others like it.

By clicking "Join Now - It's Free" you confirm that you accept the Terms of Use and Privacy Policy, including cookie use.