Muhlenberg Medical Office Building

By The Numbers:

• Purchase Price: $1,300,000.00
• TIA & Soft Costs: $2,600,000.00
• Total Project Cost: $3,900,000.00
• NOI: $454,610.00
• Unlevered CAP: 11.70%
• Cash on Cash: 28.88% (Based on 20 year AM at 4% – 80/20)
• Appraised Value: $7,576,833.00
• Equity Created: $3,676,833.33

Project Brief:

• Single Tenant Medical Office
• Motus Equities identified a 14,500 SF former beer distributor at a high trafficked, lighted interchange as a prime redevelopment opportunity.
• During the Due Diligence period, Motus identified Penn State Health as a potential user via its brokerage network and begins negotiations for a 15-year turn-key lease.
• Motus acquired the asset via a cash investment from its partners.
• D&B Construction began tenant fit-out on October 1, 2018
• D&B Construction and Motus Development completed delivery on March 1, 2019
• Motus Investments secured permanent cash-out re-financing via S&T Bank.
• Keystone Property & Asset Management took over Facilities Management in 2019.