facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Industrial

/

Sale

/

27335 West Hardy Road

Partners Capital Acquires Industrial Property In Spring With Financing From Veritex Bank
SOLDIndustrial

Partners Capital Acquires Industrial Property In Spring With Financing From Veritex Bank

27335 West Hardy Road

Building Size

196,000 SF

Asset Type

Industrial

Closing

May 22, 2024

AI

The Old Town Spring Business Center, an industrial flex property in Houston, has been acquired by Partners Capital, the investment arm of Partners Real Estate. This property spans 196,000 square feet and includes four buildings along with two acres of undeveloped land for potential future expansion. The transaction was facilitated with acquisition financing from Veritex Bank, while the specific seller and sales price details have not been disclosed.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Buyer: Andrew Pappas - Partners Capital
  • Lender: Veritex Bank
  • Address: 27335 West Hardy Road
  • Market: Spring
  • Square Footage: 196,000

Andrew Pappas, representing Partners Capital, played a key role in the acquisition of the Old Town Spring Business Center. Veritex Bank provided the necessary financing for this property deal, showcasing the collaborative effort between the buyer, lender, and other involved parties in the successful acquisition of this substantial industrial asset.

Players

Veritex Bank
Veritex BankLender

Spring Industrial Market Snapshot

Boundary boundary · Industrial · Sale 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