Matt Franke Of Northmarq Secures $10.5M Refinancing Loan For Industrial Property In Houston
6989 West Little York Road, Houston, Texas 77092, United States
$10,500,000
$86/SF
Building Size
120,900 SF
Asset Type
Industrial
Closing
Sep 19, 2022
AI
Located at 6989-6999 W. Little York Rd. in Houston, this industrial property covers an area of approximately 120,900 square feet. The transaction involves a refinancing loan for the property.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,500,000
Matt Franke from Northmarq represented the parties involved in this deal. The loan obtained for the property amounted to $10,500,000 and was used for refinancing purposes.
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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93