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
The Woodlands Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
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