Buchanan Street Partners Acquires Office In Houston For $20M With Loan From East West Bank
FINANCED
$20,000,000
Texas
See Similar DealsOffice35,556 SF
Financed 01/20/20
FINANCED
Buchanan Street Partners Acquires Office In Houston For $20M With Loan From East West Bank
10344 Sam Houston Park Drive, Houston, TX 77064, USA
See Similar DealsOffice35,556 SF
Financed 01/20/20
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$562
Total Square Footage:35,556 SF
Transaction Type:Loan
A $20,000,000 loan was secured for an office property located at 10344 Sam Houston Park Dr, in the North Houston Gardens market of Houston. The loan transaction took place on January 21, 2020.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,000,000
- Address: 10344 Sam Houston Park Dr, Houston
- Market: North Houston Gardens
The borrower in this transaction was Buchanan Street Partners, represented by Timothy J. Ballard. East West Bank served as the lender, represented by Antonio C. Moncupa. The loan was facilitated by JLL, with Laura Sellingsloh and John Ream acting as brokers.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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