Buchanan Street Partners Acquires Office In Houston For $20M With Loan From East West Bank
10344 Sam Houston Park Drive, Houston, TX 77064, USA
$20,000,000
$562/SF
Building Size
35,556 SF
Asset Type
Office
Closing
Jan 20, 1920
AI
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
Houston Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93