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Claymoore Portfolio

Lovett Industrial And PCCP, LLC Acquire Claymoore Portfolio, Industrial Buildings In Houston's Northwest Submarket
SOLDIndustrial

Lovett Industrial And PCCP, LLC Acquire Claymoore Portfolio, Industrial Buildings In Houston's Northwest Submarket

Claymoore Portfolio

Building Size

1,390,900 SF

Asset Type

Industrial

Closing

Aug 24, 2023

AI

The Claymoore Portfolio, consisting of 10 class A industrial buildings with a total square footage of 1,390,900, located in Houston's Northwest submarket, has been jointly acquired by Lovett Industrial represented by Ashley Bird and PCCP, LLC represented by Brad Hartstein. The portfolio is fully occupied by 21 tenants and strategically positioned for convenient access to major highways and the local labor pool.

Summary of transaction details

Trent Agnew from JLL served as the broker in the acquisition deal, facilitating the transaction between the buyers, Lovett Industrial and PCCP, LLC, and the lender, Voya Financial. Additionally, Michael Johnson and Wally Reid from JLL acted as mortgage brokers in this transaction, ensuring a smooth financial process for the acquisition of the Claymoore Portfolio.

Players

Trent Agnew

JLL

Broker

$486M

vol

64 deals

Broker
Voya Financial
Voya FinancialLender

Claymour 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