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Highway 290 & Mason Road

Trademark Property Company Acquires 37-Acre Development Site In Cypress
SOLDDevelopment Site

Trademark Property Company Acquires 37-Acre Development Site In Cypress

Building Size

Asset Type

Development Site

Closing

Nov 22, 2023

AI

Terry Montesi has sold a development site located at Highway 290 & Mason Road in Cypress. The property spans 37 acres and is situated within the Dunham Pointe master-planned development in the northwestern Houston suburb. The buyer is Trademark Property Company, based in Fort Worth.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: Not disclosed
  • Market: Cypress
  • Acres: 37

The 37-acre development site in Cypress was purchased by Trademark Property Company, represented by Terry Montesi. The site will be utilized for a mixed-use project within the Dunham Pointe master-planned development. The project is expected to commence construction in the second quarter of 2025 and will feature 225,000 sq. ft. of retail, restaurant, and entertainment space. Additionally, it will consist of 500 apartments, with an anticipated opening in late 2026 or early 2027.

Players

Terry Montesi

Trademark Property Company

Buyer

$61M

vol

4 deals

Buyer

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