Partners Acquires Property At 10849 Kinghurst Dr In Houston With Buyer's Rep Jason Scholtz
10849 Kinghurst Dr, Houston, TX, 770...
Building Size
53,500 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property involved in this transaction is a 53,500-square-foot industrial flex asset located at 10849 Kinghurst Drive in southwest Houston. The property was fully leased at the time of sale, contributing to its attractiveness to buyers within the Houston market.
Summary of transaction details:
- Property Type: Industrial Flex
- Transaction Amount: Not disclosed
- Address: 10849 Kinghurst Dr, Houston, TX, 770...
- Market: Houston
- Buyer's Representative: Jason Scholtz - Colliers International
- Buyer: Partners
- Financing: Provided by Veritex Community Bank
Jason Scholtz represented Partners in the acquisition of the property. Partners, previously known as NAI Partners, is a Houston-based investment and brokerage firm. The seller of the property has not been disclosed, and the terms of the sale remain confidential.
Players
Houston Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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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