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20404 Whitewood Dr, Spring,...

Updated Oct 29, 2024

First Community Credit Union Provides Loan For Industrial Property At 20404 Whitewood Dr
FINANCEDIndustrial

First Community Credit Union Provides Loan For Industrial Property At 20404 Whitewood Dr

20404 Whitewood Dr, Spring, TX, 77373

Building Size

—

Asset Type

Industrial

Closing

Nov 22, 2023

About this deal

AI

The portfolio comprises three net-leased industrial properties in and around Houston, Texas. The buildings are located at 9841 Windmill Park Lane, 20404 Whitewood Drive, and 1114 Seaco Ave. They are fully leased to Global Drilling Support, Forge Systems, Inc., and Intertek USA, Inc., respectively. These properties offer strategic locations in high-growth submarkets within Houston's Grand Parkway.

Summary of transaction details:

JLL Capital Markets facilitated the sale and acquisition financing for the portfolio. Houston-based NDP Interests, LLC, acquired the asset, and the new owner secured a 10-year fixed-rate acquisition loan with First Community Credit Union. The JLL Capital Markets Investment Sales and Advisory team represented the seller, Finial Group, led by Senior Managing Director Trent Agnew and Director Charles Strauss. Managing Director Michael Johnson from JLL Capital Markets Debt Advisory team represented the borrower in the deal.

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Players

Michael Johnson

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Broker

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Broker
First Community Credit Union
First Community Credit UnionLender
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Spring 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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