Northmarq's Matt Franke Arranges $5.5M Acquisition Loan For Houston Industrial Property
6410 Cavalcade Street, Houston, Texas 77026, United States
$5,500,000
$75/SF
Building Size
72,649 SF
Asset Type
Industrial
Closing
Jan 19, 2023
AI
An industrial property located at 6410 Cavalcade St in Houston, with a total area of 72,649 square feet and sitting on 4.9 acres of land, was recently involved in a closed transaction.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,500,000
- Loan Type: Acquisition Loan
- Loan Terms: five-year term and a 25-year amortization schedule
The transaction was facilitated by Matt Franke of Northmarq acting as the broker for the deal. The loan amount for the acquisition was $5,500,000, and the loan terms included a five-year term and a 25-year amortization schedule.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93