Radiant Senior Living, Sweetbriar Villa, 6135 E St Springfield, Oregon 97478
Cap. Rate: 7.25%
Building SF: 17,738
Lot Size: 2.97 Acres
Year Built: 2001 (renovated)
Notes: ~12-Years Remaining | Absolute NNN Lease
Asset class healthcare (senior living)
Est. Annual rent $587,378
Capitalization rate 7.25%
Purchase price $8,100,000
Est. Commencement 4/16/2015
Est. Lease end 4/15/2030
Primary lease term 15 years
Lease type absolute nnn
Lease escalations 2.0% annually
Renewal options two 5-year options
Property Address – 6135 E Street, Springfield, Oregon 97478
Tenant – RSL Springfield, LLC
Guarantors – Radiant Companies, Inc.
Building size – 17,738 sf
Land size – 2.97 acres
Construction type – Type V: Wood-frame, Stucco, and Brick
Sweetbriar Villa is composed of 25-units / 30 beds of assisted care and a 5-unit/9- bed memory care wing for persons with Alzheimer’s disease and related dementia’s.
As shown in the floor plan overview, the Sweetbriar Villa has three residential wings plus common area amenities. The one-story structure contains an overall gross building area of 17,738 square feet, which is 591 square feet per unit.
A portion of the original structure was built in 1965 and utilized as a church.
Subsequently, the original structure was extensively renovated in 1989 and converted for use as a 15-bed residential care facility. A renovation and 12,988 square foot addition was completed in 2001 bringing the capacity to 30-units / 39-beds. The building is of average-quality construction and is in good repair.
All resident rooms include a half-bath (toilet and wash basin) and each wing has a common shower room. Twenty-six of the 30 rooms have private half- baths and four rooms (two sets of rooms) have shared / adjoining half-baths.
The property also includes an additional undeveloped parcel of ±1.40 acres.
Josiah Byrnes | Vice President
JByrnes@EmbreeGroup.com | +1.719.243.6569 | www.EmbreeGroup.com
Klinton Lewis | Associate Net Lease Services
KLewis@EmbreeGroup.com | +1.512.819.4729 | www.EmbreeGroup.com
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