Jeremy Giles Of Constellation Real Estate Partners Acquires 15 Acres In Pasadena For Development
2555 Genoa Red Bluff Road
Building Size
—
Asset Type
Land
Closing
Aug 19, 2025
AI
The transaction involves a land asset located at 2555 Genoa Red Bluff Road in Houston, Texas. The property consists of 15 acres with a planned development for Constellation Genoa Red Bluff, which will feature a 240,041-square-foot Class A industrial building. The acquisition is part of a strategic initiative to expand industrial capacity in the area, with construction expected to commence in the third quarter of 2025 and completion anticipated by the second quarter of 2026.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: Not disclosed
- Address: 2555 Genoa Red Bluff Road
- Market: Houston
- Asset Size: 15 acres
- Building Size: 240,041 square feet
- Buyer: Jeremy Giles - Constellation Real Estate Partners
Jeremy Giles is representing Constellation Real Estate Partners in this acquisition. This deal highlights the company's commitment to developing high-quality industrial spaces in the Houston market, aligning with their growth strategy in the region.
Players
Pasadena Land Market Snapshot
Boundary boundary · Land · 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