Updated Dec 19, 2024
J. Alan Kent Development Purchases 119 Acre Development Site From Clarke Family Trust In Montgomery
19500 Fm 1097
Building Size
5,183,640 SF
Asset Type
Development Site
Closing
Dec 12, 2024
About this deal
AI
The property asset involved in the transaction is a development site located at 19500 Fm 1097 in the Montgomery market. It encompasses a land acreage of 119 acres, suitable for various development opportunities.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 19500 Fm 1097
- Market: Montgomery
- Acreage: 119
- Buyer: J. Alan Kent Development
- Seller: Clarke Family Trust
- Broker Representatives: David Alexander & Josh Cheatham - Newcor Commercial Real Estate
Key individuals in the transaction include the buyer, J. Alan Kent Development, and the seller, Clarke Family Trust. The deal was brokered by David Alexander and Josh Cheatham, who are affiliated with Newcor Commercial Real Estate, representing the interests of both parties in this transaction.
On the Map
Development Site
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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