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W Bellfort St, Richmond, Te...

Camden Property Trust Acquires 16 Acres Of Land In Richmond With Buyer's Rep Kenneth Danna & Seller's Rep Ashley Strickland
SOLD

Camden Property Trust Acquires 16 Acres Of Land In Richmond With Buyer's Rep Kenneth Danna & Seller's Rep Ashley Strickland

W Bellfort St, Richmond, Texas 77407, United States

Building Size

Asset Type

Closing

Mar 27, 2022

AI

Camden Property Trust, represented by Todd Triggs, has completed the purchase of a 16-acre land parcel located at Grand Parkway/TX 99 & West Belfort Street in Richmond. The seller, CJ Development, was represented by Johnny Vassallo. The transaction took place on March 28, 2022.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: Not specified
  • Address: Grand Parkway/TX 99 & West Belfort Street, Richmond
  • Market: Richmond
  • Acres: 16

Kenneth Danna from Dosch Marshall Real Estate represented Camden Property Trust as their buyer's representative. Ashley Strickland, from NewQuest Properties, served as the seller's representative for CJ Development.

Players

Ashley Strickland

NewQuest Properties

Broker

2 deals

Broker
CT
Camden Property TrustBuyer

Johnny Vassallo

CJ Development

Seller

$114.1M

vol

3 deals

Seller

Richmond CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93