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.
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