Marty Pell Acquires 9.5 Acres Near Baybrook Mall For Wellby Financial
I 45 & Gulfbrook Drive
Building Size
—
Asset Type
Land
Closing
Jun 13, 2024
About this deal
AI
The land transaction involved in the deal is 9.5436 acres located near Baybrook Mall in Houston. Situated at Interstate 45 and Gulfbrook Drive, the property offers strategic access and close proximity to the Johnson Space Center, making it an ideal location for Wellby Financial's new headquarters.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: Not specified
- Buyer: Marty Pell - Wellby Financial
- Seller: Not specified
- Broker: Kelly Hutchinson - Colliers
- Market: Houston
- Asset Type: Land
- Acres: 9.5
Kelly Hutchinson of Colliers played a key role in representing Wellby Financial in the acquisition of the 9.5436-acre land parcel for their new headquarters. This strategic move aligns with the credit union's expansion plans and underscores their commitment to growth and innovation.
Players
Houston 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