Javed Meghani And Aliakbar Meghani Acquire Development Site In Pearland From Shahrukh Ahmed And Hamza Ali
2883 Old Chocolate Bayou Road
Building Size
193,000 SF
Asset Type
Development Site
Closing
Feb 26, 2025
AI
The asset involved in the transaction is a development site located at 2883 Old Chocolate Bayou Road in Pearland. This property is positioned within a market that holds potential for development opportunities.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Buyer: Javed Meghani & Aliakbar Meghani - Meghani Capital
- Seller: Shahrukh Ahmed & Hamza Ali - Nextforce Capital
- Buyer's Representative: Abdul Sabha & Tooba Patoli - Hunington Properties
- Seller's Representative: Joshua Sabesta - S&P Interests
- Transaction Date: 02/26/2025
This transaction involves key individuals, including the buyers, Javed Meghani and Aliakbar Meghani, who represent Meghani Capital, acquiring the property from sellers Shahrukh Ahmed and Hamza Ali, representing Nextforce Capital. The deal was facilitated by Abdul Sabha and Tooba Patoli from Hunington Properties acting on behalf of the buyers, while Joshua Sabesta represented the sellers as part of S&P Interests.
Players
Pearland 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