KKR Acquires 576047 SF Property At 2214 Corner Ridge San Antonio With Josh Villarreal As Seller's Representative
2214 Corner Ridge, San Antonio, TX...
Building Size
576,047 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property involved in the transaction is located at 2214 Corner Ridge, San Antonio, TX, and is an industrial park consisting of 576,047 square feet. The park includes four industrial buildings that feature a cross-dock, a front-load, and two rear-load configurations. These buildings have clear heights ranging from 28 to 32 feet, 28 to 60-foot dock high doors, and truck court depths of 130 to 210 feet. The site is situated in the San Antonio market.
Summary of transaction details:
- Property Type: Industrial Park
- Transaction Amount: Undisclosed
- Address: 2214 Corner Ridge, San Antonio, TX
- Market: San Antonio
- Square Footage: 576,047
- Buyer: KKR
- Seller: Houston-based Hines
- Seller's Representative: Josh Villarreal (JLL)
- Other Representatives: Trent Agnew, Dustin Volz, Dom Espinosa, Zach Riebe (JLL)
The transaction was brokered by JLL, which represented the seller, Houston-based Hines. The deal was facilitated by a team from JLL including Trent Agnew, Dustin Volz, Dom Espinosa, and Zach Riebe, alongside Josh Villarreal, who played a key role as the seller's representative. KKR, a global investment firm, was the acquiring party.
Players
San Antonio 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