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1201 Lake Robbins Drive, Th...

The Howard Hughes Corp Secures $250M Loan For Office Property In The Woodlands
FINANCEDOffice

The Howard Hughes Corp Secures $250M Loan For Office Property In The Woodlands

1201 Lake Robbins Drive, The Woodlands, TX, USA

$250,000,000

$309/SF

Building Size

808,000 SF

Asset Type

Office

Closing

Oct 19, 2021

AI

The office property located at 1201 Lake Robbins Drive in The Woodlands has been involved in a closed transaction. The property spans an impressive 808,000 square feet and is owned by The Howard Hughes Corp, represented by David R. O'Reilly. The transaction details include a loan amount of $250,000,000 with a loan term of 10 years.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $250,000,000
  • Address: 1201 Lake Robbins Drive
  • Market: The Woodlands
  • Asset Type: Office
  • Square Footage: 808,000
  • Landlord: The Howard Hughes Corp
  • Landlord's Representative: David R. O'Reilly
  • Loan Term: 10 years

This transaction highlights the collaboration between The Howard Hughes Corp and David R. O'Reilly. The loan secured for the property amounted to $250,000,000 and will span over a period of 10 years. This deal represents a significant investment in The Woodlands office market.

Players

David R. O’Reilly

Howard Hughes Corporation

Landlord

$1.7B

vol

5 deals

Landlord

The Woodlands 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

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93