Updated Oct 29, 2024
Howard Energy Partners (HEP) Acquires Industrial Property On Union Street In Corpus Christi
5438 Union Street, Corpus Christi, TX, USA
Building Size
8,625 SF
Asset Type
Industrial
Closing
Jan 3, 2021
About this deal
AI
The industrial property located at 5438 Union Street in Corpus Christi has recently been sold. The transaction took place on January 4, 2021, and the buyer is Howard Energy Partners (HEP), represented by Mike Howard. The seller of the property is MPLX LP.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: Not available
- Market: Corpus Christi
- Seller: MPLX LP
- Buyer: Howard Energy Partners (HEP) - Mike Howard
Mike Howard, from Howard Energy Partners, played a significant role as the buyer's representative in the deal. This successful transaction adds to the portfolio of Howard Energy Partners and further strengthens their presence in the Corpus Christi industrial market. Congratulations to all parties involved in this transaction.
Players
Corpus Christi Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Deal FAQ
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