Fort Capital Acquires Industrial Portfolio In Houston For $60M Loan
10606 Hempstead Road, Houston, Texas 77092, United States
$60,000,000
$89/SF
Building Size
673,679 SF
Asset Type
Industrial
Closing
Oct 25, 2022
AI
An industrial property located at 10606, 10612-10616 Hempstead Road, 2517-2523 Fairway Park Dr., 11000 Stancliff, 10925 Kinghurst, 10325 Landsbury Dr., 3727 Greenbriar Dr., 10610-10630 Rockley Road, 902-910 & 912-930 Gemini Street in Houston has recently been involved in a closed transaction. The property spans a total area of 673,679 square feet.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $60,000,000
- Loan Type: Acquisition Loan
- Landlord: Fort Capital - Chris Powers, Jr & Jason Baxter
- Broker: Cullen Aderhold - JLL
Cullen Aderhold from JLL represented the buyer in securing a $60,000,000 acquisition loan for the property. This loan will facilitate the acquisition of the industrial asset.
Players
Houston Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93