Updated Oct 28, 2024
Fort Capital Secures $72M Acquisition Loan For Industrial Property In Houston
210 Spring Hill Dr, Spring, Texas 77386, United States
$72,000,000
$101/SF
Building Size
711,399 SF
Asset Type
Industrial
Closing
Sep 14, 2022
About this deal
AI
210-240 Spring Hill Dr. in Houston has been sold in an industrial property transaction. The property spans a total of 711,399 square feet, making it a significant asset in the market. The transaction took place on 09/15/2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $72,000,000
- Market: Houston
- Lender: PCCP - Sarina Strickland
- Landlord: Fort Capital
The loan for this acquisition was provided by PCCP, with Sarina Strickland serving as the representative. Fort Capital is the landlord in this transaction.
On the Map
$72,000,000
$101/SF
Industrial
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Players
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93