Updated Oct 28, 2024
Fort Capital Acquires Industrial Property In Houston For $72M With Loan
10694 Haddington Drive, Houston, Texas 77043, United States
$72,000,000
$101/SF
Building Size
711,399 SF
Asset Type
Industrial
Closing
Oct 2, 2022
About this deal
AI
Fort Capital has acquired an industrial property located at 10694 Haddington Drive in Houston. The property spans 711,399 square feet, making it a substantial asset in the market.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $72,000,000
- Address: 10694 Haddington Drive, Houston
- Market: Houston
- Landlord: Fort Capital
- Landlord's Representative: Cullen Aderhold - JLL Capital Markets
- Loan Type: Acquisition
Cullen Aderhold from JLL Capital Markets represented Fort Capital in securing a loan of $72,000,000 for the acquisition. This loan will facilitate the successful completion of the transaction, allowing Fort Capital to expand its industrial portfolio in Houston.
On the Map
$72,000,000
$101/SF
Industrial
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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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93