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
About this deal
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.
On the Map
$250,000,000
$309/SF
Office
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Players
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