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
Houston Medical Office Market Snapshot
Boundary boundary · Medical Office · 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