Mirae Asset Global Investments Acquires Industrial Property In Katy For $190M
SOLD
$190,000,000
Texas
See Similar DealsIndustrial1,500,000 SF
Sold 04/21/2022
SOLD
Mirae Asset Global Investments Acquires Industrial Property In Katy For $190M
1800 Mason Road, Katy, Texas 77449, United States
See Similar DealsIndustrial1,500,000 SF
Sold 04/21/2022
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$126
Total Square Footage:1,500,000 SF
Transaction Type:Sale
An industrial property located at 1800 N. Mason Road in Katy, Texas has been sold for a price of $190,000,000. The property spans across 1,500,000 square feet, resulting in a price per square foot of $127. The transaction took place on April 21, 2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $190,000,000
- Address: 1800 N. Mason Road, Katy, Texas
- Square Footage: 1,500,000
- Price per Square Foot: $127
Mirae Asset Global Investments purchased the property from Tratt Properties. The deal was facilitated by Ken Hedrick from Newmark. The lending institution involved in the transaction was Athene Annuity & Life Assurance Co.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,133,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$675,029.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$900,696.93
Annual Debt Service$10,808,363.20
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