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
- Property Type: Industrial
- Transaction Amount: Not specified
- Buyer: Lovett Industrial - Ashley Bird; PCCP, LLC - Brad Hartstein
- Broker: Trent Agnew - JLL
- Lender: Voya Financial
- Mortgage Brokers: Michael Johnson & Wally Reid - JLL
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
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