Hines U.S. Property Partners Secures $73.6M Acquisition Loan In Four Markets
19000 Greens Crossing Blvd , 1220 Us Route 301, 48603 Warm Springs Boulevard & 180 First Avenue
$73,600,000
$14/SF
Building Size
5,200,000 SF
Asset Type
Industrial
Closing
Feb 23, 2024
AI
The property transaction involves industrial assets located at 48603-48633 Warm Springs Boulevard in Fremont, CA, 19000 Greens Crossing Boulevard in Houston, TX, 180 First Avenue in Gouldsboro, PA, and 1220 Us Route 301 in Tampa, FL, with a total combined square footage of 1.3 million square feet. The loan amount for this acquisition was $73,600,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $73,600,000
- Landlord: Hines U.S. Property Partners
- Landlord's Representative: Melissa Rose (Mrose2110), Colby Mueck - JLL; Michael DiCosimo & Nicole Barba
- Loan Type: Acquisition
The key individuals involved in this transaction include Melissa Rose representing Hines U.S. Property Partners, along with Colby Mueck from JLL, and Michael DiCosimo & Nicole Barba.
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