Michael Borden Of NorthMarq Secures Loan On Industrial Property In Houston
850 E Little York Rd, Houston, TX, 770...
Building Size
—
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property involved in the transaction is a 17,250-square-foot industrial flex property located at 850 E Little York Rd, Houston, TX. The structure was built in 1975 and features 12-foot clear heights, two dock-high doors, and six drive-in doors.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Market: Houston
- Borrower's Representative: Michael Borden - NorthMarq
- Lender: Undisclosed Institutional Investor
- Loan Type: Nonrecourse
- Loan Term: Five-year
- Interest Rate: Fixed
- Amortization Schedule: 25 years
The deal was arranged by Michael Borden of NorthMarq, representing the borrower. The identity of the borrower and the direct lender has not been disclosed in the context of this transaction.
Players
Houston Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93