Dallas, May 2011
International Capital, LLC announces the Sale of Sunnyvale Medical Center. The project developer, Cottonwood Partners, successfully sold the hospital during the month of May 2011 to the American Sabra Health Care REIT, Inc. (NYSE SBRA) for the price of $62.7 million. Despite difficult market conditions, the successful sale of the hospital was, accomplished ahead of schedule. “Our experienced team at International Capital recognized the hospital in Sunnyvale as a quality, firstclass investment of institutional caliber, which had great potential to produce attractive cash flow as well as substantial increase in value for our Investors.” Christiane Hepfer, President at International Capital, LLC.
The partnership ICI-SB Sunnyvale Hospital Partners, L.P. was formed in mid-2009 and had a capital fund volume of $1.8 million. The fund’s purpose was financing part of the hospital’s development. Construction started in May 2008, and the project was move-in ready in September of 2009. An existing group of 90 physicians signed a 25-year lease agreement for the acute care Hospital.
ABOUT THE COMPANY
International Capital, LLC is a highly experienced real estate advisory company with over 30 years of experience in the Dallas/Ft. Worth market.
International Capital offers a wide range of commercial real estate services for its clientele. The company specializes in acquisition, disposition, management and administration of commercial investment properties. Land and property development, funds conception, mezzanine financing and Cash Management are an integral part of its service package. International Capital represents more than 80 legal entities in its capacity as asset manager and as property manager, handles a portfolio of more than 20 properties in the southwestern United States
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