Forest Park Medical Center sells for $120M

FRISCO – Sabra Heath Care REIT purchased the 137,000-sf Forest Park Medical Center for slightly less than $120 million, or about $874 per sf. The hospital is located at 11990 N. Central Expy.

With the purchase, Sabra assumed an existing long-term triple net lease with Forest Park Medical Center at Frisco LLC that will result in annual lease revenues of roughly $13.3 million and an initial yield on cash rent of 8.75 percent.

The seller was Neal Richards Group Brokerage.

Read more at CoStar Group.