Marcus & Millichap Capital Corporation Arranges $18.5M Acquisition Loan For Industrial Property In Houston
11660 Brittmoore Park Drive, Houston, Texas 77041, United States
$18,500,000
$82/SF
Building Size
225,000 SF
Asset Type
Industrial
Closing
Jan 29, 2022
AI
An acquisition loan has been secured for the industrial property located at 11660 & 11670 Brittmoore Park Drive & 11927 Tanner Road in Houston. The property spans an area of 225,000 square feet. The loan, provided by an undisclosed lender, amounts to $18,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $18,500,000
- Loan Type: Acquisition Loan
- Loan Terms: 10-year, 65-percent LTV loan with a 5-year interest only term
The acquisition loan was facilitated by Frank Montalto & Dean Giannakopoulos from Marcus & Millichap Capital Corporation. They served as the brokers in this deal, representing the buyer and seller.
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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93