J. Alan Kent Development Purchases 411 Acres Development Site In Montgomery From Foster Timber
Building Size
—
Asset Type
Development Site
Closing
Jul 17, 2024
AI
The property asset involved in this context is a development site located at 18150 FM-1097, Montgomery, TX, encompassing an area of 411 acres. The market for this asset is identified as Conroe/Montgomery. The seller of this property is Foster Timber.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 18150 FM-1097, Montgomery, TX
- Market: Conroe/Montgomery
- Acres: 411
- Buyer: J. Alan Kent Development
- Seller: Foster Timber
- Brokers: Josh Cheatham & David Alexander - Newcor Commercial Real Estate
- Date of Transaction: 07/17/2024
The transaction involved key individuals such as J. Alan Kent Development as the buyer. The brokers representing the transaction were Josh Cheatham and David Alexander from Newcor Commercial Real Estate, acting on behalf of the buyer and seller in this deal.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · 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