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BV Ernest Health Neuro Rehab DST

BV Ernest Health Neuro Rehab DST is offering $77,667,582 in equity interests to acquire a 50-unit rehabilitation hospital in Sacramento, California. The property was opened in January 2023 and operates under a 20-year lease with two 10-year extensions.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%
Term avg.
Term avg. 7.00%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

50-unit rehabilitation hospital in Sacramento, California

— acquisition price

BV Ernest Health Neuro Rehab DST

SACRAMENTO REHABILITATION HOSPITAL

The Sacramento Rehabilitation Hospital facility opened in January 2023, indicating a very new property.

Sacramento, California

Sacramento, California

50 unitsSACRAMENTO REHABILITATION HOSPITAL

100.0% of portfolio

Seller
Property manager
Bridgeview Real Estate Exchange LLC
Sponsor

Bridgeview Real Estate Exchange LLC

Asset Type

Sacramento rehabilitation hospital

Location

Sacramento, California

Units

50

Property Age

The Sacramento Rehabilitation Hospital facility opened in January 2023, indicating a very new property.

Offering Price

$77,667,582

Offering Debt

Offering Equity

$77,667,582

Offering LTV

0%

Income % (Yr. 1)

Avg. Income (Full Term)

7%

Minimum Cash Investment

Minimum 1031 Investment

Strengths

  • Unleveraged 0% LTV structure
  • 20-year lease term with two 10-year extensions
  • Modern property opened in January 2023

Concerns

  • Single-tenant healthcare facility risk
  • 9% upfront load on offering price