DC Partners And Michael Fleischer Acquire Development Site In Houston For $31M
4411 San Felipe Street, Houston, TX, USA
$31,000,000
$335/SF
Building Size
92,340 SF
Asset Type
Development Site
Closing
Dec 17, 2020
AI
A construction loan of $31,000,000 was secured for a development site located at 4411 San Felipe Street in Houston. The loan was provided by 3650 REIT, with Jonathan Roth as the lender. The loan terms include a 30-month loan term.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $31,000,000
- Property Address: 4411 San Felipe Street, Houston
- Square Footage: 92,340 SF
- Market: Houston
The development site is managed by DC Partners, represented by Michael Fleischer and Shin Bowers. The loan was facilitated by Jonathan Roth from 3650 REIT.
Players
Houston Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93