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:
- Property Type: Land
- Transaction Amount: Not disclosed
- Address: Western Side of State Highway 288
- Market: Iowa Colony, Texas
- Buyers: Hines - Carson Nunnelly; Trez Capital
- Buyer's Representative: Derek Graber - Dosch Marshall Real Estate
- Seller's Representatives: David Cook & Meredith Cullen - Cushman & Wakefield
- Lender: Flagstar Bank & Rocky Lai & Associates
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
Market Land Market Snapshot
Boundary boundary · Land · 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