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Western Side Of State Highw...

Hines Acquires 954 Acres Of Land In Iowa Colony, Texas
SOLDLand

Hines Acquires 954 Acres Of Land In Iowa Colony, Texas

Western Side Of State Highway 288

Building Size

Asset Type

Land

Closing

Apr 13, 2023

AI

The asset involved in the transaction is a parcel of land located on the western side of State Highway 288 in Iowa Colony, Texas, encompassing an area of 954 acres.

Summary of transaction details:

Key individuals involved in the transaction include Carson Nunnelly from Hines and Derek Graber representing the buyers, while David Cook and Meredith Cullen represent the sellers through Cushman & Wakefield, facilitating the negotiation and finalization of the deal.

Players

David Cook

Cushman & Wakefield

Broker

3 deals

Broker
Hines
HinesBrokerage
Hines
HinesBuyer
Trez Capital
Trez CapitalLender

Market 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