Updated Oct 29, 2024
NAI Partners Investment Fund II Acquired 215835 SF Property At 8020 Leghorn St Houston With Buyer's Rep Nolan Johnson
8020 Leghorn St, Houston, TX, 77040
Building Size
215,835 SF
Asset Type
Commercial
Closing
Feb 19, 2019
About this deal
AI
NAI Partners’ Investment Fund II acquired two commercial assets located in Houston, Texas. The two properties include the Leghorn Service Center, an industrial building comprising 66,530 square feet, situated at 8020 Leghorn St, and the Clear Lake Business Center, a flex property totaling 149,305 square feet. The total square footage for both properties is 215,835, marking a significant acquisition for the investment fund.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Address: 8020 Leghorn St, Houston, TX, 77040
- Market: Houston
- Buyer: NAI Partners Investment Fund II
- Buyer's Rep: Nolan Johnson
- Seller: Berkeley Properties
Andrew Pappas, Adam Hawkins, and John Nolan were instrumental in negotiating and closing the deals for the properties involved in this transaction. The acquisition of these assets brings the NAI Partners Investment Fund II to full deployment.
Players
Houston Commercial Market Snapshot
Boundary boundary · Commercial · 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