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800 Peakwood Dr, Houston, T...

Unknown Buyer Acquires 138373 SF At 800 Peakwood Dr Houston From Seller's Rep Brooks Creech
SOLDMedical Office

Unknown Buyer Acquires 138373 SF At 800 Peakwood Dr Houston From Seller's Rep Brooks Creech

800 Peakwood Dr, Houston, TX, 77090

Building Size

138,373 SF

Asset Type

Medical Office

Closing

Nov 19, 2023

AI

The property involved in this transaction is the Northwest Medical Plaza I & III, located at 800 Peakwood Dr, Houston, TX 77090. This portfolio includes two buildings with a total square footage of 138,373. The properties are situated in the Houston market, specifically in the near north neighborhood, and are associated with the Houston Northwest Medical Center.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: Undisclosed
  • Address: 800 Peakwood Dr, Houston, TX 77090
  • Seller's Representative: Brooks Creech - Transwestern Commercial Services
  • Buyer's Identity: Unknown
  • Connected Entity: Houston Northwest Medical Center

The transaction included a joint venture between i3 Interests of Houston and Atlas Real Estate Partners from New York, culminating in the sale managed by Altera Development Co. LLC from Dallas. Transwestern Commercial Services' Justin Brasell, Sara Carter, and Brooks Creech represented the seller in this deal, which includes the handling of the buildings’ leasing activities.

Players

Brooks Creech

Transwestern

Broker

1 deal

Broker

Houston Medical Office Market Snapshot

Boundary boundary · Medical Office · 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